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Research Alert: Aegon's Sale Of U.k. Division To Standard Life: A Positive Lift To Book Value

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Aegon's sale of its U.K. operations to Standard Life for GBP2.0 billion (GBP750 million cash + 15.3% equity stake) is positive. The deal values the business at 14.2x 2025 operating earnings (vs. the 12x group multiple) and 1.9x equity (group: 1.2x). In 2025, Aegon UK contributed EUR219 million in operating result (12% of group), GBP1.4 billion in CSM (19%), and GBP246 billion in AUM (32%). Aegon's U.K. asset management remains as strategic partner to the combined entity, creating Britain's largest retirement provider with 16 million customers and GBP480 billion in assets. The transaction could boost Aegon's book value by ~15% while reducing 2027 earnings by 5%, although the cash proceeds enable buybacks to offset the EPS dilution. Aegon becomes Standard Life's largest shareholder with board representation. This completes Aegon's U.K. strategic review, accelerating its U.S. transformation toward 2028 redomiciliation as Transamerica. The sale is expected to close in end-2026 subject to regulatory approvals.

$AEG

Research23d ago

MIDF Amanah Downgrades UOA Development to Neutral from Buy; Price Target is MYR1.86

$KLSE:UOADEV

Research23d ago

Bualuang Securities Downgrades Siam Cement to Sell from Hold; Price Target is THB260

Delta Electronics Thailand (BKK:DELTA) has an average rating of overweight and mean price target of 243.72 baht, according to analysts polled by FactSet.(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)

$BKK:DELTA

Research23d ago

JM Financial Starts VA Tech Wabag at Buy with INR1,755 Price Target

VA Tech Wabag (NSE:WABAG, BOM:533269) has an average rating of buy and mean price target of 1,866.57 Indian rupees, according to analysts polled by FactSet.(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)

$BOM:533269$NSE:WABAG

Research23d ago

Avendus Spark Starts Amagi Media Labs at Buy with INR430 Price Target

$BOM:544679$NSE:AMAGI

Research23d ago

Macquarie Upgrades The Indian Hotels to Outperform from Neutral; Price Target is INR770

The Indian Hotels (NSE:INDHOTEL, BOM:500850) has an average rating of buy and mean price target of 801.21 Indian rupees, according to analysts polled by FactSet.(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)

$BOM:500850$NSE:INDHOTEL

Research23d ago

Nomura Starts Sinfonia Technology at Buy with 18,000 Yen Price Target

$TYO:6507

Research23d ago

Nomura Starts Oki Electric Industry at Buy with 4,200 Yen Price Target

$TYO:6703

Research23d ago

Research Alert: Tsmc: Q1 2026 Results In Line, Supported By Ai Demand And Margin Upside

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:TSMC's Q1 2026 results were in line with expectations, with net profit rising 13% Q/Q and 58% Y/Y to TWD572B, representing 23%-24% of full-year estimates, while revenue increased 8% Q/Q and 35% Y/Y to TWD1,134B. Margins exceeded management guidance, with gross margin at 66% (vs. 65% guidance) and operating margin at 58% (vs. 56% guidance), supported by higher utilization, better cost control, and favorable forex rates. Strong AI-led demand drove advanced nodes, which accounted for 74% of wafer revenue, while the HPC segment grew 20% Q/Q to 61% of total revenue, offsetting weaker smartphone and automotive demand. Management's outlook points to continued HPC strength and ongoing 3nm ramp supporting further revenue growth. We view the results as consistent with a strong AI-led cycle, with growth likely to continue into Q2 2026 but with a more balanced trajectory as new capacity ramps. Overall, earnings visibility remains strong, with AI demand continuing to anchor performance.

$TSM

Research23d ago

Research Alert: CFRA Keeps Hold Opinion On Adss Of Ubs Group Ag

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 to USD47 from USD41, reflecting an expansion in our applied P/E multiple to 14.8x from 12.6x on unchanged 2026 EPS estimates. This multiple expansion is justified by (1) the compression in the equity risk premium since our March 20 report, due to easing geopolitical tensions and improving market sentiment, (2) U.S. investment banking peers' strong Q1 2026 results validating the return of the M&A and wealth management cycles, and (3) incremental positive signals regarding Swiss regulatory capital framework compromises. The ~15% share price appreciation since March 20 aligns with similar moves across the European banking peer group, confirming this as largely a sector-wide re-rating. While we maintain our Hold rating given limited near-term upside from current levels, the regulatory capital framework decision expected this month (April 22-23) represents a potential catalyst that could swing our view. UBS will release its Q1 2026 results on April 29.

$UBS

Research24d ago

Research Alert: CFRA Maintains Buy Opinion On Shares Of Flex Ltd.

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 price to $86 from $78, reflecting FLEX's data center dominance as a powerful tailwind. We raise our FY 27 (Mar.) EPS estimate to $3.90 from $3.56 while maintaining FY 26 at $3.23. FLEX continues to demonstrate impressive execution, capitalizing on the AI data center market's projected 28%+ CAGR through 2030. We believe the power segment is particularly compelling, with growth rates likely to exceed the overall data center target as AI workloads drive higher power requirements. FLEX's recent completion of the industry's first fully integrated gigawatt data center solution represents a significant catalyst, positioning the company to capture accelerating global demand. We expect data center growth to more than offset traditional market weakness, while improving operating leverage from favorable business mix shift. We believe these tailwinds and FLEX positioning in the market warrant our increased multiple of 22x FY 27 EPS.

$FLEX

Research24d ago

Research Alert: We Keep Our Hold Rating On Jabil Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lift our price target from $272 to $320, ~22x our FY 27 EPS view, reflecting strengthened confidence in JBL's favorable business mix shift toward higher-margin Intelligent Infrastructure. We raise our FY 27 EPS view to $14.70 from $14.00 and keep our FY 26 estimate at $12.25. Our increased conviction is due to multiple converging factors. The ongoing recovery in Regulated Industries is gaining momentum as customers resume capital spending on critical infrastructure projects. Simultaneously, segments like Connected Living & Digital Commerce are undergoing a meaningful transformation toward higher-margin automation and robotics solutions, moving away from lower-margin traditional manufacturing. This positions JBL for accelerating earnings power in FY 27, with initial momentum building throughout FY 26. While we believe JBL is successfully executing its transformation toward a more profitable business model, we think much of this positive trajectory is now reflected in the current valuation.

$JBL

Research24d ago

Research Alert: CFRA Maintains Buy Rating On Shares Of Coherent Corp.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lift our price target from $246 to $357, 41x our CY 2027 EPS view ($8.70), well above COHR's three-year average (~20x) given substantial AI demand and above our prior view (31x) on emerging upside in co-packaged optics (CPO). We keep our FY 26 (Jun.) EPS view at $5.61, lift FY 27's by $0.63 to $7.58, and initiate FY 28's at $9.60. Our price target increase primarily reflects growing NVDA-driven momentum around CPO in recent weeks. On March 2, NVDA announced a $2B equity investment in COHR alongside a multibillion-dollar, multiyear purchase commitment revolving around CPO/silicon photonics innovation. At GTC 2026 in mid-March, NVDA also provided a view of future computing platforms that would be much more CPO-heavy relative to copper, with CPO set to be used (rather than copper) for a portion of interconnects on the Rubin Ultra platform (2027) and 100% of utilization in Feynman (2028) vs. 0% in the Blackwell/Rubin architectures. We see massive upside here, with sales starting to roll in by CYE 2026.

$COHR

Research24d ago

Research Alert: CFRA Maintains A Buy Rating On Godaddy Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our target price to $110 from $120, reflecting a more cautious outlook on near-term bookings momentum. We maintain our 2026 and 2027 EPS estimates of $7.08 and $8.10, respectively. Our target price reflects a multiple well below GDDY's three-year historical average, appropriately discounting headwinds from decelerating bookings, AI-driven competitive pressures, and ongoing customer migration toward social media platforms. However, we believe the company has responded effectively, with its GenAI tool Airo demonstrating success in enhancing cross-selling and improving retention rates. We view the recent sell-off as an overreaction to AI concerns, particularly given GDDY's dominant market position and 82M+ domain base, which provides a substantial foundation for monetizing new AI-driven products. The company's strategic shift toward higher-value customers should support margin expansion over time.

$GDDY

Research24d ago

Research Alert: CFRA Maintains Buy Opinion On Shares Of Advanced Energy Industries

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lift our target to $415 from $362, 38x our revised 2027 EPS ($10.92, up from $10.65; 2026 maintained at $8.56), reflecting our belief it should trade more in line with AI-exposed peers (35x-45x) than industrial automation peers (22x-27x), as AEIS is well positioned to benefit from demand for AI infrastructure and data center power solutions. In our view, earnings are poised to accelerate in 2027 as AEIS gains traction in the higher-margin Data Center Computing segment throughout this year. The company has expanded its hyperscaler customer base, with a second wave of major cloud providers now adopting AEIS solutions. We believe this broadening customer footprint, combined with the production ramp of design wins, positions the Data Center segment to sustain elevated growth rates while driving favorable product mix shifts. Additionally, the Thailand manufacturing facility is delivering productivity improvements, while next-generation semiconductor products are providing volume production with premium pricing.

$AEIS

Research24d ago

Research Alert: CFRA Adjusts Rating On Cat Shares From Hold To Sell

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Ahead of CAT's Q1 print, we maintain our 12-month target at $700 but downgrade our rating on shares to Sell from Hold due to valuation and margin risk. Our target values shares at 25.4x our 2027 EPS view of $27.57 (revised from $27.46; 2026 EPS estimate updated to $22.61 from $23.43), a premium to CAT's historical forward multiple that we believe is warranted given unprecedented demand for power generators. While robust generator demand and safety stockpiling activity of construction/mining equipment is encouraging, we expect tariff impacts to be potentially a greater threat to profitability in 2026 given amended Section 232 tariffs that now apply duties to the full customs value of the products instead of only to the value of the metal inputs (went into effect April 6, 2026). Given CAT's complex and highly stretched global supply chain network, the company is vulnerable to sweeping protectionist trade actions. We see downside risk in shares, as a 160%+ return over the past year carries higher expectations.

$CAT

Research24d ago

Research Alert: CFRA Keeps Buy Opinion On Shares Of The Progressive Corporation

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 $10 to $235, valuing PGR shares at 12x our 2027 EPS estimate of $18.85 and at 13x our 2026 EPS estimate of $17.58 (raised today by $0.13), vs. the one-year average forward multiple of 15x and a peer average of 12x. We lower our 2026 operating revenue estimate to a rise of 9%-12% (from our previous estimate of a 12%-15% rise) amid our view that a more competitive pricing environment will reduce top-line growth, though PGR will likely continue to grow faster than peer averages. We now see earned premium growth of 8%-12% (down from 10%-15%), net investment income growth of 8%-10% (10%), and 12%-15% higher fee revenues (15%-18%). This compares to the broader property-casualty industry, which is likely to produce earned premium growth of around 4%-8% in 2026. Currently trading at 11.5x our 2026 EPs estimate, a discount to peer and historical averages, we view the shares as undervalued and see above-peer growth as a catalyst.

$PGR

Research24d ago

Research Alert: J.b. Hunt Reports Q1 Earnings Beat As Sales Rebound

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:JBHT reported Q1 EPS of $1.49 vs. $1.17 in the prior year, beating consensus by $0.04, while revenue of $3.06B rose 5% and beat estimates by $98M. Operating margin expanded 70 bps to 6.8% as operating income increased 16% to $207M. The company repurchased $80M of shares with $888M remaining under authorization. Management acknowledged the operating environment remains dynamic while emphasizing continued focus on operational excellence and cost reduction initiatives. Intermodal delivered strong performance with record Q1 volumes of 536,852 loads (+3%) and 21% operating income growth through improved network efficiency. The eastern network showed particular strength with 7% load growth, though revenue per load excluding fuel declined 2% due to freight mix and customer rate dynamics. Dedicated Contract Services maintained steady growth with a 2% revenue increase and 9% operating income growth, supported by 2% productivity improvements and 96% customer retention rates.

$JBHT

Research24d ago

Research Alert: We Maintain A Hold On Match Group, Inc.

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 to $36 from $33, reflecting increasing confidence that MTCH's turnaround is gaining traction. We maintain our 2026 and 2027 EPS estimates of $2.64 and $3.00, respectively. The company is making tangible progress executing its transformation strategy. Tinder is showing signs of stabilization after years of declines, with engagement metrics inflecting positively even as monetization remains challenged. Hinge continues to exceed expectations as the portfolio's growth engine, with international expansion outpacing initial projections across Europe, Latin America, and upcoming markets like India. International represents the most compelling multiyear catalyst, in our view, with the potential to shift from roughly one-third of revenue today to approaching 40% by 2027. However, we believe the current valuation appropriately balances this growth potential against execution risks, continued Tinder revenue pressure, and broader concerns around dating app market saturation.

$MTCH

Research24d ago

Research Alert: We Maintain Our Hold Rating On Zebra Technologies Corporation

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We are reducing our 12-month price target to $245 from $294, reflecting valuation multiple compression driven by multiple near-term headwinds facing the company. We are maintaining our FY 26 and FY 27 EPS estimates of $17.51 and $19.97, respectively. The compressed multiple reflects several key concerns. First, margin pressure from escalating component costs is likely to persist through at least the first half of FY 26, constraining profitability even as revenues grow. Second, organic demand remains uneven across key end markets, creating visibility challenges. Third, the company's elevated debt levels limit financial flexibility and increase sensitivity to interest rate fluctuations. Finally, execution risks remain elevated as management navigates cost mitigation strategies while attempting to preserve market share in an increasingly competitive landscape. Until we see clearer evidence of margin stabilization and improved demand visibility, we believe a more conservative valuation approach is prudent.

$ZBRA

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