-- Kutxabank Investment on Thursday upgraded Spanish electricity transmission system operator Redeia (RED.MC) to buy from hold, while maintaining its price target at 17.20 euros.
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CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our 12-month target by $25 to $375, based on a 2027 P/E of 9.0x, a modest discount to LAD's 10-year forward P/E of 10.3x. We reduce our adjusted EPS estimates to $35.30 from $39.25 for '26 and to $41.80 from $43.20 for '27. Following LAD's Q1 earnings beat, we are lowering our estimates and price target but reiterating our Strong Buy on the shares. LAD remains our top pick in auto retail, as the company continues to outperform in a more challenging environment for dealerships. LAD's same-store-sales growth is outperforming peers by a wide margin and its combination of aggressive share repurchases and accretive acquisitions is helping support its bottom line. Impressively, LAD bought back ~4% of total outstanding shares in Q1 after retiring 11% of its share count in 2025. We find LAD's current risk/reward compelling with significant upside potential in a more favorable demand environment, continuing to view the long-term growth story as intact and noting management's history of solid execution.
Stifel Canada on Thursday maintained its buy rating on the shares of Kinross Gold (K.TO, KGC) and its C$65.00 price target following the company's first-quarter results."Kinross reported Q1/26 adjusted EPS of $0.71 vs. our $0.69 (consensus: $0.72) on attributable GEO production of 492.6Koz vs. our 489.8Koz (consensus: 481.8Koz) at attributable cost of sales of $1,380/GEO and AISC of $1,732/GEO which were in-line and within the FY26 guidance ranges ($1,360 +/- 5% and $1,730 +/- 5%, respectively). Adjusted Q1/26 EPS absorbed a $91Mln withholding-tax charge, of which $65Mln relates to taxes payable in future quarters tied to repatriation of Mauritania cash flows. Record Q1/26 attributable FCF of $837.5Mln implies FCF/GEO ex-WC of $2,656/GEO (+$1,034/GEO or +63.8% QoQ vs. +$722/oz or +17.4% in gold price). Kinross repurchased $250.1Mln in shares in Q1/26 (plus $50Mln in April) and reaffirmed its 40%-of-FCF return-of-capital target. We estimate approx. $1.3Bln for share buybacks in 2026 (vs. $0.6Bln in 2025) or 3.4% of shares outstanding (vs. 2.5% in 2025). Q1/26 total liquidity stood at $3.9Bln, including $2.2Bln of cash (+$443Mln QoQ)," analyst Ralph Profiti wrote.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $40.93, Change: $+0.07, Percent Change: +0.17%
Canada's economy grew by 0.2% month over month in February, a result in line with Statistics Canada's preliminary estimate released a month earlier, said National Bank of Canada.This strong performance was driven by a robust rebound in the manufacturing sector, which posted a 1.8% month-over-month increase following a 1.3% decline in January.It would be a mistake to rejoice in the sector's strength, as this surge is primarily attributable to a return to normal operations at auto assembly plants following a January marked by production stoppages due to changes in production models, retooling and maintenance, noted the bank.Despite February's rebound, activity in the sector remains 3.1% below its level a year ago. The sector continues to be plagued by U.S. tariffs and uncertainty surrounding the renewal of the CUSMA trade deal, the bank stated. The bank recalled that the 50% tariffs on steel, aluminum, and copper, which previously applied only to component costs, were replaced by a 25% tariff applied to the total product price at the beginning of April, as such significantly impacting the competitiveness of certain products.Excluding the manufacturing sector, the Canadian economy stagnated in February.Overall, the data released on Thursday confirms that the Canadian economy has held up in Q1 despite current headwinds, added the bank. Despite the expected stagnation of the economy in March, GDP by industry shows growth of 1.7% on an annualized basis in Q1.Not less than 12 out of 19 sectors posted growth during the quarter. Under normal circumstances, such growth would be considered decent, but it comes at a time when the population is shrinking, which is holding back the economy's potential GDP, according to National Bank.Consequently, GDP per capita is on track to experience its strongest growth in 15 quarters, or 2.1% annualized. This is good news for an economy with excess supply and an unemployment rate above its full-employment level. Unfortunately, past performance is no guarantee of future results regarding this renewed growth.The Canadian economy remains vulnerable due to tariff uncertainty and the global geopolitical situation, now, said the bank. While higher commodity prices could benefit some industries, the potential upside should be offset by the negative impact on consumers, who are facing a jump in inflation.Weak real estate activity in major urban centers across the country (Toronto, Vancouver, among others) is causing a negative wealth effect, which represents another headwind for consumers.