-- 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年の予想EPSに対する予想PERが18倍となり、ROPの過去3年間の平均PERを下回っているため、目標株価を395ドル（従来408ドル）に引き下げます。2026年のEPS予想を21.49ドルから21.95ドルに、2027年のEPS予想を22.92ドルから23.40ドルにそれぞれ引き上げます。ROPは第1四半期に好調な業績を発表し、売上高と利益の両方で市場予想を上回りました。売上高は21億ドルで、前年同期比11%増（オーガニック成長率6%）となり、アプリケーションソフトウェアの売上成長加速（前年同期比11.6%増）とネットワークソフトウェアの好調（前年同期比14%増）が牽引しました。調整後EBITDAは7億9,700万ドルで、利益率は38.1%（前年同期比-120bps）でした。今後の見通しとしては、一部の分野（デルテック、貨物市場）で逆風が継続し、M&Aパイプライン活動が鈍化しているものの、当四半期中に実施された15億ドルの自社株買いは好材料であり、大規模な自社株買いが継続するにつれてEPS成長率の上昇が見込まれると見ています。経営陣は、第1四半期の好業績と自社株買いの勢いを反映し、2026年通期の調整後EPSガイダンスを21.80～22.05ドル（中間値は前年同期比9%増）に0.50ドル引き上げました。
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$HIG
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Research Alert: CFRA Keeps Strong Buy Opinion On Shares Of Baker Hughes
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 price by $14 to $82, reflecting a combination of our sum-of-the-parts (SOTP) and DCF models. For our SOTP model, we presume the oilfield services business (about 50% of BKR's franchise) to be valued at about 10x projected 2027 EBITDA (in line with major peers) and its industrial energy technology business (the other 50%) valued at 14x projected 2027 EBITDA (in line with the peer median). This blended approach, yielding a 12x multiple, implies a value of $73 per share. Meanwhile, our DCF model, using medium-term free cash flow growth of 5% per year, terminal growth of 2.5%, discounted at a WACC of 6.3%, yields intrinsic value of $91 per share. We cut our 2026 EPS estimate by $0.47 to $2.48, but we raise 2027's by $0.07 to $3.24. We acknowledge that the oilfield services business is likely to struggle in 2026 owing to the U.S.-Iran conflict, but the IET business appears quite robust and likely to be a source of both accelerating revenue growth and margins.
$BKR
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Research Alert: CFRA Maintains Hold Opinion In Shares Of Wab
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lift our 12-month target to $285 from $275 following WAB's Q1 earnings print, valuing shares at 24.2x our 2027 EPS outlook of $11.76 (revised from $11.46; 2026 EPS estimate up to $10.57 from $10.50), a slight premium to WAB's long-term historical multiple average given structural improvements in earnings quality. While we are cautious on signs of overcapacity in the freight market, an elevated order backlog (12-month sits at over $9 billion), internal initiatives to shore up margins, and potential synergies from M&A activity positions WAB to continue growing earnings at double-digit rates in 2026-2027, in our view. Despite tariff-related cost pressures, WAB has done a commendable job of defending margins via a mix of pricing, lean manufacturing, and pruning of lower-profit operations. Q1 results were mixed but overall positive, in our view. We maintain our Hold recommendation on shares.
$WAB