-- 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。マクロ経済の不確実性と米連邦政府のリスクを理由に、目標株価を36カナダドル引き下げ、102カナダドルとしました。これは、2026年度（9月期）のEPS予想の11.5倍に相当し、CGIの過去3年間の平均（約18倍）を下回ります。2026年度のEPS予想を0.02カナダドル引き下げて8.88カナダドル、2027年度のEPS予想を0.12カナダドル引き下げて9.40カナダドルとしました。第2四半期の売上高の減速（為替変動を除く+1.6%、前期比-180bps、前年同期比-170bps）は、一時的な問題ではなく、構造的な圧力を反映しているのではないかと懸念しています。第2四半期の受注減少（前年同期比-4%）と過去12ヶ月間の受注残高対売上高比率の低下（前年同期比-220bps）は、顧客が支出決定を延期し続けていることによるリスクを示唆しています。また、米国連邦政府向け受注実績が好調（過去12ヶ月間の受注残高対売上高比率110.9%）であったにもかかわらず、この減少が生じたことに留意する必要があります。CGIは第3四半期に米国連邦政府向け事業でオーガニック売上高の成長が再開すると予想していますが、これは不確実であり、欧州市場の低迷によって影を潜める可能性があると当社は考えています。同社が正式なガイダンスを発表していないことも、当社の不確実性を高めています。とはいえ、CGIが実行できれば、過去の水準を下回る株価評価と、米国連邦政府向け事業における第3四半期のオーガニック売上高の目標達成は、短期的な上昇余地を提供します。
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Research Alert: CFRA Maintains Buy Rating On Shares Of Tenet Healthcare
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Research Alert: CFRA Maintains Hold Opinion On Shares Of Sanmina Corporation
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