-- 独立系調査会社CFRAは、に対し、以下の調査レポートを提供しました。CFRAのアナリストは、以下のように見解をまとめています。2026年のEV/EBITDA倍率を17倍（従来15倍）とし、12ヶ月目標株価を9ドル引き下げて180ドルとします。これは、過去3年間の平均予想倍率15倍を上回る水準です。2026年のEPS予想は3.71ドルから2.75ドルに引き下げ、2027年のEPS予想は4.26ドルから4.34ドルに引き上げます。2026年の調整後EBITDA予想は11億8,000万ドルで、経営陣のガイダンスの中間値付近です。第1四半期決算が予想を上回り、通期RevPARガイダンスも上方修正されたことを受け、投資判断を「買い」から「中立」に引き下げます。株価が過去3年間の平均予想倍率を10%上回る水準で取引されている現状では、投資環境は以前ほど有利ではないと判断しています。当社の評価倍率は、H社の規模が小さくレバレッジが高いことを考慮し、同業他社と比較して割安となっています。ただし、H社は高級レジャー旅行事業に注力しており、第1四半期のパッケージ客室単価（RevPAR）が7.4%上昇するなど勢いを見せており、RevPARの大幅な成長に貢献しています。しかしながら、H社の流通事業に影響を与える地政学的な混乱により、2026年のEBITDA見通しは下方修正しました。現在の水準では、リスクとリターンのバランスが取れていると考えています。
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Research Alert: CFRA Keeps Hold Opinion On Shares Of Conocophillips
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Check Point Software Technologies' Q1 Results Disrupted by Changes in Go-To-Market Strategy, RBC Says
Check Point Software Technologies' (CHKP) go-to-market strategy changes have disrupted its Q1 financial performance and are still playing out, RBC Capital Markets said in a note emailed Friday.The company's Q1 results were "disappointing," with almost all key metrics missing analysts' consensus, and full-year 2026 revenue guidance was cut, RBC analysts said. This was mostly due to changes in its go-to-market strategy, wherein account managers were moved into new accounts and roles, creating more disruption than expected, specifically on the firewall refresh and new business, according to the note.Check Point stated that sales should rebound, although analysts noted that Q2 is projected to have a larger decline in product revenue, and return to normal in Q3 and Q4, though declining year-over-year.The company's exposure in the EMEA region also poses a risk as the conflict in the Middle East continues to drag out, the note said.RBC maintained the company's stock rating at sector perform and lowered the price target to $135 from $157.Price: $115.46, Change: $+2.99, Percent Change: +2.66%
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