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FINWIRES

Sector Update: Financial Stocks Decline Premarket Friday

-- Financial stocks were declining premarket Friday, with the State Street Financial Select Sector SPDR ETF (XLF) down 0.4%.

The Direxion Daily Financial Bull 3X Shares (FAS) was 1.1% lower and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 1.3%.

Western Union (WU) shares were down more than 10% after the company posted lower Q1 adjusted earnings and revenue.

Jefferies Financial Group (JEF) stock was 0.5% lower after the company priced its public offering of $1.1 billion of 5.125% senior notes due April 28, 2031.

First Hawaiian (FHB) shares were up 1.7% after the company reported higher Q1 earnings and revenue.

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Research Alert: CFRA Keeps Buy Opinion On Shares Of The Hartford Insurance Group, Inc.

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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.

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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.

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