-- 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12ドル引き下げ、123ドルとします。EV/EBITDAは、2026年のEBITDA予想値に基づき12.0倍と見込んでおり、これは米国の同業他社平均13.6倍を下回る水準ですが、国際的な同業他社平均8.4倍を上回る水準です。2026年のEPS予想は0.12ドル引き下げ、5.93ドルとします。2027年のEPS予想は0.19ドル引き下げ、6.58ドルとします。CRHは、19億ドルの事業売却と9億ドルの買収（現在進行中の7億ドル規模のAxius Water買収を含む）という積極的な資本配分を実行しました。当社は、CRHが魅力的な水インフラ市場への事業拡大を継続していくことを好意的に見ています。イラン紛争は大きな逆風となっており、燃料費の高騰が長期化すれば、建設予算の制約や、高金利による長期にわたる資金調達コストの増大につながる可能性があります。労働力不足と人件費の両面で、労働力に関する課題は依然として懸念材料です。2026年の調整後EBITDAマージンは、わずか20ベーシスポイント上昇して20.7%にとどまると見ています。株価は過去2年間の平均EV/EBITDAを約15%上回る水準で取引されており、株価上昇余地は限られています。
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Research
Research Alert: CFRA Maintains Buy Opinion On Shares Of Cms Energy Corporation
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our 12-month target by $1 to $87, 22.0x our next-12-month EPS estimate, above peers and CMS's three-year historical average of 18.4x. We trim both our 2026 and 2027 EPS views by $0.02 to $3.88 and $4.17, respectively. CMS posted Q1 adjusted EPS growth of 10.8%. CMS announced that two hyperscaler data centers had reached commercial agreement on contract terms and signed 110 MW of new load in Q1 alone (exceeding all of 2025's signings), with expected load coming online starting in 2028, all incremental to the current plan. Each 1 GW of new load provides $2B-$5B in capital investment opportunities while reducing average customer rate growth by ~2%. We think CMS offers competitive near-term EPS (~7.6% 2025-2028 CAGR) and dividend growth trajectories (~5.8%). In our view, Michigan is one of the most supportive regulatory districts in the country, with CMS's most recent electric rate case outcome highlighting regulatory willingness to support prudent investments through multiple recovery mechanisms.
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Commodities
US Biofuels Update: Midwestern Frost Threat Pushes Up Soybean Futures
Biofuels feedstock futures closed higher on Friday, with soybeans posting moderate gains heading into the weekend, especially on new crop futures where calendar year highs were also achieved.The Chicago Board of Trade July soybean futures contract closed 0.50% higher on Friday at $12.01 per bushel, while the CBOT July soybean oil futures contract settled 0.78% higher at 75.12 cents per pound.On Thursday, the July ethanol futures contract on the Nymex ended 1.59% lower at $2.01 per gallon.Ethanol's performance this past week was mixed, according to The Digest's weekly price assessments.Its Low Carbon Fuel Standard value of $0.13 per gallon remained compared with the previous week. Its energy value of $0.74/gal and Renewable Fuel Standard value of $1.13/gal were flat from a week ago. Also, the retail price of $2/gal was unchanged from a week ago.Rhett Montgomery, DTN analyst, said traders built in weather risk on Friday, amid a Midwestern frost threat for the weekend."The market reflected an early dose of weather risk to close this week, with cold temperatures overnight throughout the Midwest causing frost, and another round possible for next week as well. Given the record-fast start to planting thus far this season, there is some concern that emerging soybeans (8% of the crop as of last week) could be at risk," Montgomery said in a daily note.
Insider Trading
First Interstate Bancsystem Insider Sold Shares Worth $1,895,112, According to a Recent SEC Filing
Jonathan R Scott, 10% Owner, on April 30, 2026, sold 53,504 shares in First Interstate Bancsystem (FIBK) for $1,895,112. Following the Form 4 filing with the SEC, Scott has control over a total of 879,520 common shares of the company, with 879,520 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/860413/000149315226020876/xslF345X05/ownership.xmlPrice: $35.70, Change: $+0.20, Percent Change: +0.58%
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