-- 週五，香港股市小幅收高，投資人密切關注中東局勢的發展。 恆生指數上漲約62.87點，漲幅約0.2%，收在25,978.07點；恆生中國企業指數上漲42.99點，漲幅約0.5%，收在8,775.62點。 根據路透社報道，伊朗週四發布了一段視頻，據稱影片顯示其軍隊扣押了一艘大型貨船，以展現其對霍爾木茲海峽的控制。 這段影片發布之際，美國總統川普下令美國海軍加強該地區的排雷行動，並「擊落」在霍爾木茲海峽布雷的伊朗船隻。在二戰前，霍爾木茲海峽曾是全球五分之一石油和液化天然氣的運輸通道。 路透社通報，瑞穗銀行亞太區宏觀策略主管維什努·瓦拉坦表示，該地區緩和暴力衝突的努力並非一帆風順。 「我認為市場上沒有人真正相信這場衝突會在一兩週內結束，」瓦拉坦表示。 同時，香港政府統計處數據顯示，3月香港消費者物價指數較去年同期上漲1.7%。 剔除所有一次性政府紓困措施影響的通膨率升至1.6%，高於1月和2月的平均1.3%。 此外，香港經季節性調整後的失業率從2025年12月至2026年2月的3.8%降至1月至3月的3.7%。 企業新聞方面，星宇運動醫學（HKG:1609）啟動香港首次公開募股，擬募集約8.296億港元。 這家總部位於中國的醫療器材公司正以每股98.50港元的價格發行840萬股H股，以籌集資金用於擴大產能以及支持研發。
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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
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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