-- 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。12ヶ月目標株価を5ドル引き下げ、15ドルとします。これは、より保守的な株式リスクプレミアムを適用し、予想PERを15.0倍とするためです（2026年予想利益に基づく過去3年間の平均PERは19.4倍）。また、2026年の分配可能利益（DE）を0.05ドル引き下げ、0.95ドルとします。さらに、2027年の分配可能利益を0.10ドル引き下げ、1.05ドルとします。プライベートクレジット市場、OWLの個人投資家からの償還、AIによるディスラプションの影響を受ける可能性のあるテクノロジーおよび専門サービス企業への直接融資に対する投資家心理の悪化が見られます。しかしながら、プライベートクレジット市場、特に直接融資のファンダメンタルズは安定しており、システミックリスクの兆候や、融資延滞の加速を示す指標は見られません。 OWLは多様なポートフォリオを有しており、直接融資は総運用資産額3,150億ドルのわずか37%を占めるに過ぎません。2026年第1四半期の資金調達額は前年同期の294億ドルから444億ドルに増加し、プライベートクレジットは前年同期比40%増の208億ドル（総資金調達額の47%）となりました。プライベートウェルス部門の資金調達額はわずか29億ドルで、そのほとんどは実物資産とプライベートクレジットによるものです。
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Research Alert: CFRA Maintains Buy Rating On Shares Of Labcorp Holdings Inc.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our 12-month price target to $300 from $325, 16.6x our 2026 EPS estimate, a premium to LH's three-year historical forward average of 15.3x, supported by our favorable view for health care services, including healthy lab testing volume growth within an environment of high medical utilization, as well as attractive growth prospects given new therapies and aging demographics, in our opinion. We raise our 2026 EPS estimate to $18.03 from $17.90 and raise our 2027 estimate to $19.32 from $19.15. Q1 2026 acquisitions were $202 million, including operations from Crouse Health's Laboratory Alliance of Central New York, while management expressed confidence in the upcoming deal pipeline during the Q1 earnings conference call. Acquisitions totaled $582 million during 2025. LH anticipates a 30 bps headwind for diagnostics volumes in 2026 due to the recent expiration of ACA enhanced premium tax credits, which we expect to cause a meaningful drop in ACA exchange insurance coverage.
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Research Alert: CFRA Maintains Buy Rating On Shares Of Cardinal Health Inc.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our 12-month price target to $225 from $260, 19.3x our FY 27 EPS estimate (up $0.24 to $11.66; FY 26 estimate up to $10.75 from $10.28), a premium to CAH's one- and three-year historical forward averages of 17.2x and 14.7x, respectively, to reflect our favorable outlook for pharmaceutical distributors.
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