-- 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60ドルから59ドルに引き下げました。これは、2027年予想のEV/売上高倍率5.7倍に相当し、2024年のIPO以来のTEMの平均予想倍率10倍を下回ります。2026年の1株当たり損失予想を0.01ドル縮小して-0.45ドルとし、2027年の損失予想を0.04ドル拡大して-0.09ドルとしました。TEMは最近、Merck & Co.（MRK 117 ****）と、TEMのデータセットとLensプラットフォーム内のAI機能を活用した腫瘍学研究および医薬品開発を支援する契約を締結したと発表しました。これは、3月にTEMが既存の大手バイオテクノロジー顧客であるGilead Sciences（GILD 139 ****）との提携を拡大した発表に続くものです。昨日のニーダム・ヘルスケア・カンファレンスにおける経営陣のこれらの発表に関するコメントは心強いものでしたが、当社はこれらが短期的な業績を劇的に改善するとは考えていません。検査件数の増加と償還額の上昇が長期的な収益性向上への道筋を支えるため（2028年までに1株当たり利益が黒字化する見込み）、2026年には売上高が約25%増加するとともに、TEMにとって初の通期EBITDA黒字化が見込まれます。
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Research Alert: CFRA Keeps Hold Opinion On Shares Of Otis Worldwide Corporation
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We cut our 12-month target to $90 from $100 following Q1 earnings, valuing OTIS shares at 19.6x our 2027 EPS outlook of $4.58 (down from $4.70; 2026 EPS view updated to $4.18 from $4.25), a modest discount to industrial machinery peers' and OTIS's five-year forward multiple average given unclear timing of ongoing margin headwinds. Service margins were disappointing in Q1 (contracting 160 bps to 23%) amid higher labor and material costs that came in above pricing. Weakness in China has yet to stabilize, though as noted in the past, this represents a shrinking area of OTIS's portfolio and will have a more limited effect going forward. Overall, the latest quarter was more of the same (China weakness/New Equipment decline), though with the added concern of margin quality being pressured within Service - the core profit driver for OTIS overall. While efforts to shore up profitability are underway, we see timing of recovery being uncertain.
$OTIS
Asia Markets
Saudi Shares Start Week Higher; US-Iran Peace Talks Canceled
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$^TASI$SASE:2380$SASE:4012
Research
Research Alert: CFRA Maintains Hold Rating On Shares Of United Rentals Inc.
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 price to $1,100 from $950 following a strong first quarter, valuing shares at 20.5x our 2027 EPS outlook of $54.28 (in line with previous estimate; 2026 EPS also in line). We believe a higher multiple is justified given URI's firming market leadership within an expanding rental equipment industry. A robust Q1 beat enabled URI to raise its full-year revenue guidance to $16.9B-$17.4B and adjusted EBITDA to $7.625B-$7.875B, citing momentum heading into a busy season. With leverage well below historical levels, we believe accretive M&A deals could serve as a potential catalyst for additional guidance increases. Margin compression has been a sticky issue for URI, but Q1 indicated that pricing may have turned around and that headwinds are starting to ease as quarterly results begin to lap when tariff-related inflation began to pick-up. We remain cautious on margins, though are encouraged by signs of stabilization. New project activity is likely supporting pricing trends, in our view.
$URI