-- 週四早盤，美元兌主要貿易夥伴走強，市場關注即將公佈的每周初請失業金人數數據和芝加哥聯邦儲備銀行3月份全國經濟活動指數（均於美東時間上午8:30公佈）。 標普全球4月份製造業及服務業狀況初值將於美東時間上午9:45公佈，隨後是美東時間上午10:30公佈的每週天然氣庫存數據，以及美東時間上午11:00公佈的堪薩斯城聯儲4月份製造業指數。 週四外匯市場動態簡報： 歐元兌美元匯率從週三美股收盤時的1.1706跌至1.1681，週三早盤同一時間點的匯率為1.1752。根據週四稍早公佈的數據，歐元區4月製造業採購經理人指數（PMI）上升，但服務業PMI下降。歐洲央行下次會議定於4月30日舉行。 英鎊兌美元匯率從週三美國收盤時的1.3504和周三早盤的1.3516跌至1.3488。根據週四稍早公佈的數據，英國4月製造業和服務業採購經理人指數（PMI）均有所增長，而英國3月份汽車註冊量在經歷了上月的下滑後出現反彈。英國央行下次會議定於4月30日舉行。 美元/日圓匯率從週三美國收盤時的159.5489和週三早盤的159.2295升至159.7290。日本4月製造業PMI有所成長，而服務業PMI則下降，但仍高於損益平衡點。日本央行下次會議定於4月27日至28日舉行。 美元/加幣匯率從週三美國收盤時的1.3668和周三早盤的1.3655升至1.3671。加拿大3月份工業產品和原料價格以及房屋價格將於美國東部時間上午8:30公佈。加拿大央行下次會議定於4月29日舉行。
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Research Alert: CFRA Keeps Buy Opinion On Shares Of The Hartford Insurance Group, Inc.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We trim our 12-month target price by $8 to $155, valuing HIG shares at 11.3x our 2026 operating EPS estimate of $13.75 (cut by $0.45) and at 10.6x our 2027 EPS estimate of $14.65 (cut by $0.30), vs. the shares' one-year average forward multiple of 10.3x and peer average of 13x. Q1 EPS of $3.09 vs. $2.20 a year ago missed our $3.60 estimate and $3.39 consensus view. Operating revenue growth of 6.2% was in line with our 6%-10% forecast, amid 5.3% earned premium growth, 13% higher net investment income, and 7.9% fee revenue growth. Q1 written premium growth of 4% and full-year 2025 growth of 7% bode well for 2026 revenue trends as premiums are earned. Underwriting results improved significantly, with Personal Lines combined ratio improving to 87.7% from 106.1% and underlying combined ratio to 85.0% from 89.7%. Business Insurance combined ratio was stable at 94.8%. Weighing the Q1 EPS miss with HIG's decent top-line growth and discounted valuation to peers, we view the shares as undervalued.
$HIG
Research
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