-- 金曜早朝、米ドルは主要貿易相手国通貨に対してまちまちの動きを見せた。円とカナダドルに対しては上昇、ユーロとポンドに対しては下落した。これは、午前8時30分(東部時間)に発表される3月の消費者物価指数(CPI)を控えた動きだ。CPIは、イラン紛争によるエネルギー価格の高騰の影響を大きく受けると予想されている。 総合CPIはエネルギー価格の急騰を受けて0.9%上昇すると見込まれる一方、食品とエネルギーを除いたコアCPIは0.3%の上昇にとどまると予想されている。 ミシガン大学の4月消費者信頼感指数速報値は、2月の製造業新規受注データと同時に午前10時(東部時間)に発表される予定だ。 セントルイス連邦準備銀行は正午頃に第1四半期のGDP速報値を更新する見込みで、米財務省は午後2時(東部時間)に3月の予算案を発表する予定だ。 金曜日を前にした為替相場の動向を簡単にまとめます。 ユーロ/米ドルは、木曜日の米国市場終値1.1701から1.1716に上昇し、木曜午前の同時刻には1.1674でした。金曜日はユーロ圏の経済指標発表はありません。次回の欧州中央銀行(ECB)会合は4月30日に予定されています。 英ポンド/米ドルは、木曜日の米国市場終値1.3436から1.3440に上昇し、木曜午前の同時刻には1.3405でした。金曜日は英国の経済指標発表はありません。次回のイングランド銀行(イングランド銀行)会合は4月30日に予定されています。 米ドル/円は、木曜日の米国市場終値159.0822から159.2040に上昇し、木曜午前の同時刻には159.0410でした。昨夜発表されたデータによると、日本の3月の生産者物価指数は上昇した一方、4月の消費者信頼感指数は低下しました。次回の日本銀行(日本銀行)会合は4月27~28日に予定されています。 米ドル/カナダドルは、木曜日の米国市場終値時点の1.3813から1.3836に上昇したが、木曜午前の同時刻には1.3853を下回っていた。カナダの3月雇用統計は東部時間午前8時30分に発表される予定。カナダ銀行の次回の金融政策決定会合は4月29日に予定されている。
Related Articles
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.
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.
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.