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Research Alert: CFRA Maintains Hold Opinion On Shares Of Lyft, Inc.

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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 keep our price target at $16, 7.5x our 2027 EPS view ($2.12), below LYFT's three-year average (~14x) given ongoing margin pressure and the industry's shift toward autonomous rides, creating significant uncertainty. We lower our 2026 EPS view by $0.01 to $1.55 and lift 2027's by $0.18 to $2.12. Rides growth (8.5% Y/Y in Q1) has decelerated sharply from 16.4% in the prior-year period (including ~150 bps of weather-related headwinds), but gross bookings growth (+18.8% vs. +12.7% in Q1 2025) has continued to accelerate and was guided higher in Q2 (~19.5%), demonstrating LYFT's growing footprint in the premium space. While Q2's adjusted EBITDA margin guide (~3.15%, +30 bps Y/Y) also shows encouraging expansion after only ~10 bps of improvement in Q1, we still see margin pressures from elevated promotional costs and rising competition, with management's 2027 target of 4% continuing to look optimistic. We worry that additional capital investment in AVs will become a competitive necessity, pressuring cash flow.

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Research Alert: CFRA Keeps Buy Opinion On Adss Of Sony Group Corporation

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We keep our target price at JPY4,200, at 9.3x FY 27 (Mar.) EV/EBITDA, comparable to the five-year mean, balancing earnings risk from higher memory costs with projected resilience of gaming software/fee, music, and image sensors. In our view, Sony could benefit from its software and fee-based revenue (e.g., digital game sales, PlayStation platform commissions, and music royalties), which helps stabilize profits against the more cyclical game console sales. This revenue mix also mitigates U.S. tariff and memory cost risks, as these primarily affect hardware sales/margins. In Gaming, we expect Sony to focus on monetizing its large PlayStation user base through game sales, in-game purchases, and PlayStation Plus subscriptions, rather than aggressively growing console sales, helping limit margin pressure despite rising memory costs, even though Sony has indicated its sufficient memory supply for FY 27. We keep our FY 27 EPADS forecast at JPY212.95 and initiate FY 28's at JPY232.47.

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Research Alert: Sony Group: Solid Fy 26 Operating Income; Gaming Segment To Lead Fy 27 Growth

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Sony's FY 26 (Mar.) EPADS from continuing operations fell 2.4% Y/Y to JPY171.44, slightly below our expectation, with softer margins and one-off charges offsetting solid contributions from Imaging & Sensing Solutions (I&SS) and Music. Continuing operations operating income rose 13% Y/Y, with margin up 1.0%-pt to 11.6%, helped by gains from the Financial Services spin-off. Revenue increased 3.7% Y/Y. For FY 27, Sony guided for operating income of JPY1.60T (+11% Y/Y) and a 13.0% margin, with growth supported by Game & Network Services (G&NS), Pictures, and I&SS, partly offset by normalization in Music. Sony kept its FY 24-FY 27 operating income CAGR target of 16% but flagged memory pricing and macroeconomic uncertainty. FY 27 guidance calls for G&NS operating income of +30% Y/Y (on higher first-party software sales and the absence of impairment losses) and I&SS of +12% Y/Y (on restructuring benefits, lower R&D expenses, and stronger digital camera sensor sales), with a further margin expansion.

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Research Alert: CFRA Maintains Strong Buy Opinion On Shares Of Wheaton Precious Metals

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We increase our 12-month target by CAD8 to CAD289, the result of moving our multiple forward one year to 2027 mostly offset by assuming a lower P/E multiple of 30.0x (from 35.0x previously), due to margin compression across the precious metals miners. Our assumed multiple of 30.0x is below WPM's two-year avg. fwd. P/E of 35.1x but above peers' avg. fwd. P/E of 23.3x. We trim our 2026 EPS estimate by USD0.05 to USD5.81 and keep 2027's at USD7.03. WPM delivered record Q1 2026 results with revenue of USD901M (+92% Y/Y) and operating cash flow of USD766M (+112% Y/Y), driven by strong commodity prices and solid production from Salobo and Penasquito. WPM closed its largest-ever transaction - the USD4.3B Antamina BHP silver stream - on April 1, 2026, doubling its Antamina exposure to 67.5% of silver production. WPM maintains its 2026 production guidance of 860k-940k GEOs and projects industry-leading growth of ~50% to 1.2M GEOs by 2030, supported by multiple development projects advancing through construction.

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