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Research Alert: CFRA Maintains Buy Rating On Shares Of Intercontinental Exchange, Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:After digesting Q1 results, we reduce our 12-month target price by $15 to $205, reflecting a P/E of 23.1x our 2027 EPS estimate, a premium to ICE's 10-year average of 22.1x given an improving margin profile. With geopolitical uncertainty surging, we increase our 2026 EPS estimate by $0.66 to $8.36 and raise 2027's by $0.27 to $8.86. ICE's Q1 results demonstrate its competitive strength, with revenue growth accelerating across all three business segments in the face of heightened uncertainty and geopolitical tensions. The outlook remains positive, with total futures and options open interest hitting a new record just this week, suggesting Q1's momentum will persist. However, concerns about AI disruption continue to weigh on the stock, likely keeping valuation multiples compressed near term. Critically, there is little evidence of actual business deterioration, and we note fixed income recurring revenue has actually accelerated for four consecutive quarters.

$ICE

Research60d ago

Research Alert: CFRA Maintains Buy Rating On Shares Of Intercontinental Exchange, Inc.

$ICE

Research60d ago

Piper Sandler Downgrades Check Point Software Technologies to Neutral From Overweight

Check Point Software Technologies (CHKP) has an average rating of overweight and mean price target of $200.54, 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)Price: $113.60, Change: $-26.37, Percent Change: -18.84%

$CHKP

Research60d ago

Research Alert: CFRA Maintains Buy Rating On Shares Of The Cigna Group

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 price target to $330 from $320, based on a 10.9x multiple of our 2026 EPS estimate, near CI's five-year historical forward average of 11.2x. We think CI's multiple balances pharmaceutical business momentum in CI's Evernorth segment and a timely portfolio shift toward more commercial exposure, offset by near-term challenges around higher medical costs across the managed care space. We raise our 2026 EPS estimate by $0.01 to $30.35 and lower 2027's by $0.09 to $33.42. Following Q1 results that beat consensus views, CI's annual Medical Care Ratio (MCR) guidance was maintained at 83.7% to 84.7% for 2026, suggesting cost discipline within a challenging operating environment for managed care. The company plans to exit the Individual ACA Exchange market by year-end 2026, citing the relatively small exposure relative to other parts of CI's portfolio and challenges with meaningfully scaling operations.

$CI

Research60d ago

Research Alert: CFRA Keeps Buy Opinion On Shares Of Firstenergy Corp.

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 by $1 to $55, 20.0x our next-12-month EPS view of $2.75, a premium to its five-year average of 15.6x. We reduce our 2026 EPS view by $0.02 to $2.72 and 2027 EPS by $0.01 to $2.93. The Q1 core EPS increase (+7.5% Y/Y) breaks a three-quarter streak of declines, and we see continued momentum throughout our forecast horizon. We see positive data center demand trends, with long-term contracted demand (4.3 GW) up 4% since February 2026 (4.1 GW) and up 47% since February 2025 (2.9 GW), while pipeline demand (14.9 GW) is up 15% since February 2026 (12.9 GW) and has more than doubled since February 2025 (6.1 GW). FE has reduced base O&M by over $200M (15%) since 2022, with Q1 2026 showing an additional ~5% YoY decline, while simultaneously improving reliability metrics. We think FE's cost discipline, service quality improvement, and competitive rate positioning should translate into more favorable rate case outcomes, reduced disallowance risk, and potentially higher allowed ROEs.

$FE

Research60d ago

Research Alert: CFRA Maintains Sell Opinion On Shares Of Extra Space Storage

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 price by $5 to $125, 15.5x our 2026 P/FFO estimate, below self-storage peers (16.7x) given EXR's weak NOI growth outlook and elevated debt levels. We decrease our 2026 FFO estimate by $0.20 to $8.04 and lower 2027 by $0.21 to $8.31. Despite a stronger Q1 same-store performance than expected, management did not increase guidance, which we believe is due to macroeconomic factors that are affecting new customer demand growth (primarily higher gas prices and inflation). These trends have been more pronounced in Sun Belt markets (similar to all self-storage REITs), as the excess supply has severely limited rental growth in the past 18 months. We believe 2H 2026 will have weaker same-property performance, even if the macroeconomic environment improves due to stronger Y/Y comps from 2H 2025. We also see a new risk that PSA's partnership with Welltower Inc (WELL) may negatively impact EXR's value proposition for its third-party management platform.

$EXR

Research60d ago

Research Alert: CFRA Keeps Buy Opinion On Shares Of Bunge Global Sa

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 $142 from $136, reflecting 15x our FY 26 EPS of $9.51 (up from $8.48; FY 27 EPS raised to $10.20 from $9.62). This multiple exceeds the long-term mean of 12x but aligns more closely with the peer average, which we believe is justified as BG emerges as a more diversified global player following the Viterra acquisition. Expectations were elevated heading into this release, particularly after recent favorable U.S. biofuel policy rules. This policy momentum is expanding globally, with Brazil, Indonesia, and Europe moving toward greater biofuel utilization, partly due to elevated crude oil prices stemming from Middle East tensions. We view the company's updated EPS outlook ($9.00 to $9.50 from $7.50 to $8.00) favorably and see further upside potential if forward crush margins improve in 2H 26 (current curves reflect heightened uncertainty in the back half of the year).

$BG

Research60d ago

Research Alert: CFRA Maintains Hold Opinion On Shares Of Caesars Entertainment

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 price target by $4 to $29, based on 8.1x our 2026 adjusted EBITDA estimate, slightly below the company's three-year average forward P/E multiple of 8.4x. We maintain our 2026 and 2027 EPS estimates of ($0.25) and ($0.15), respectively. CZR reported Q1 2026 results that showed modest improvement across key metrics, with total net revenues increasing to $2.87B (+2.7% Y/Y) and net loss narrowing to $98M from $115M in the prior year. The company's adjusted EBITDA remained essentially flat at $887M (+0.3% Y/Y), reflecting mixed segment performance despite overall revenue growth. Caesars Digital delivered standout performance with record Q1 results, generating revenues of $374M (+11.6% Y/Y) and adjusted EBITDA of $69M (+60.5% Y/Y). This segment continues to be the primary growth driver for the company, with management highlighting the strong momentum in the digital betting and iGaming platform. We remain neutral and see the valuation as fair at 8x consensus EBITDA estimates for 2026.

$CZR

Research60d ago

Research Alert: CFRA Reiterates Strong Buy Opinion On Shares Of Lithia Motors Inc.

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.

$LAD

Research60d ago

Kinross Gold Maintained at Buy at Stifel Canada Following Q1 Results; Price Target Kept atC$65.00

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%

$K.TO$KGC

Research60d ago

Research Alert: CFRA Reiterates Strong Buy Opinion On Shares Of Yum! Brands, Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our price target by $3 to $180, representing an unchanged 26x multiple on our 2026 EPS view and a premium to shares' 25x five-year average forward multiple. We raise our 2026 EPS estimate to $6.91 from $6.80 and 2027's to $7.73 from $7.60. After Q1 results that beat estimates, we reiterate our Strong Buy opinion. YUM saw strong system sales growth (+6%) driven by KFC (+2% comps) and Taco Bell (+8% comps), highlighting its "Raise The Bar" strategy focused on winning the future consumer through menu innovation, strong value perception, and consumer insights. Unit economics remain strong with KFC margins expanding 70 basis points to 43.6%, reflecting operational efficiency and favorable cost dynamics. Taco Bell margins of 35.2% remain industry-leading despite investments in growth. Strong unit economics, combined with 8.2% net unit growth (402 net new stores in Q1), support long-term guidance of 7% system sales growth and 8% core operating profit growth.

$YUM

Research60d ago

Research Alert: CFRA Maintains Sell Opinion On Shares Of Altria Group, Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Following MO's Q1 earnings release, we raise our estimates and price target but maintain our Sell rating on the stock. We raise our 12-month price target by $10 to $60, based on a 2027 P/E of 10.3x, a slight premium to its five-year mean forward P/E of 10.0x. We are also increasing our adjusted EPS estimates by $0.05 to $5.70 for 2026 and by $0.05 to $5.80 for 2027. MO posted Q1 adjusted EPS of $1.32 vs. $1.23 (+7%). This result was well ahead of the $1.25 consensus. Net revenue rose 5.3% to $4.76B ($180M above consensus) as higher price realizations fully offset lower volumes, which declined 2.3% for smokable products and 3.1% for oral tobacco. While MO maintained 2026 adjusted EPS guidance of $5.56-$5.72, we now see its earnings coming in toward the higher end of the range. Still, MO's earnings release confirmed our concerns regarding market share declines in its on! nicotine pouch product (retail share down 80 bps Y/Y to 7.8% in Q1). Therefore, we continue to view the stock's risk/reward as unfavorable.

$MO

Research60d ago

Research Alert: Arx Maintained Hold Following Shell Acquisition Announcement: Tp Cad33

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We maintain ARX at Hold and increase the target price to CAD33, which is generated from a 5.2x EBITDA multiple applied to our FY 27 EBITDA projection and matches the announced Shell acquisition price. At this time we do not foresee any issues with closing and do not discount the deal price. We adjusted our EPS estimate for FY 26 to CAD3.10 from CAD2.48 and increase FY 27 to CAD2.93 from CAD2.75. Fundamentals in Q1 were strong, with production of 418,522 boe/day, up 12% Y/Y and 16% on a per share basis. FFO increased to CAD967M, or CAD1.70 per share, up 17% per share from Q1 2025, supported by higher volumes and strong natural gas pricing that realized CAD4.51/Mcf.

$ARX

Research60d ago

Research Alert: Arx Maintained Hold Following Shell Acquisition Announcement: Tp Cad33

$ARX

Research60d ago

Research Alert: CFRA Maintains Hold Rating On Align Technology, Inc.

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 price target to $189 from $193. This new target is 16.7x our 2026 EPS estimate, above ALGN's one-year historical forward average of 15.7x but well below its three- and five-year averages of 24.3x and 31.4x, respectively. We raise our 2026 EPS estimate by $0.06 to $11.34 and our 2027 estimate by $0.15 to $12.36. While interest rates are expected to continue declining, we think North American patient volumes remain challenged in the current macro environment, with inflationary pressures weighing on consumer sentiment and elective medical spending. Average per case shipment price rose around 1% to $1,250 during Q1, up $10 sequentially and Y/Y, though ALGN guides for a 1%-2% decline in pricing during 2026.

$ALGN

Research60d ago

Research Alert: CFRA Maintains Hold Rating On Shares Of Equity Residential

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our target by $3 to $69 per share, applying a wider equity risk premium and a forward P/FFO of 16.8x, a premium to the multifamily residential REIT average at 15.5x given EQR's premium urban, coastal markets that face less new supply in the trust's local markets. We keep our 2026 FFO estimate at $4.10 and 2027's at $4.25 on unchanged revenue forecasts of $3.2B and $3.3B. EQR and its peers have underperformed the S&P 500 given the group's defensive characteristics and slower but steady growth profile. EQR's stock beta is 0.74, indicating slightly less price volatility than the equity market. The shares offer an attractive 4.3% dividend yield, well above the S&P 500, which is below 2.0%. Our cautious view on EQR is tied to lower expectations on rental rate increases and higher operating expenses. Even in EQR's coastal markets, we are seeing the impact of weak new job growth in technology and entertainment on new tenant leases. This supports a moderating outlook for this real estate asset class.

$EQR

Research60d ago

Research Alert: Parker Hannifin: Fy Q3 Earnings Benefit As Aerospace Growth Soars

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:PH delivered strong Q3 FY results with sales of $5.5B (+11% Y/Y) and adjusted EPS of $8.17 (+18% Y/Y), reflecting broad-based momentum and 6.5% organic growth across segments. The results demonstrate healthy end-market demand. The Aerospace Systems and Diversified Industrial segments contributed meaningfully to overall performance. Aerospace Systems achieved $1.81B in revenue (+15.5% Y/Y) with 14.2% organic growth, resulting in record adjusted operating margins of 29.5% (+80 bps Y/Y). The segment benefited from 22% commercial OEM growth and 14% aftermarket expansion as aircraft build rates accelerate. Order rates remained robust at +14% with record backlogs supporting future growth. The Diversified Industrial recovery gained further traction, with 3.0% organic growth and record margins of 25.3%. North America achieved 2.8% growth, while International operations saw a 3.3% expansion. We believe the sustained aerospace momentum and accelerating industrial recovery position PH well for continued outperformance.

$PH

Research60d ago

Research Alert: Martin Marietta Q1: Aggregates Strategy Accelerates, But Profitability Lags

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:MLM delivered record Q1 2026 revenues of $1,362M (+17% Y/Y) with adjusted EPS of $1.93 (+14% Y/Y) and adjusted EBITDA growth of 14% to $364M, though underlying profitability metrics reflected portfolio optimization complexity. Aggregates shipments reached a record 43.9M tons (+12% Y/Y), but gross profit per ton declined 14% to $6.56 due to acquisition charges and inflation. We think the February completion of the QUIKRETE asset exchange and aggregates-focused strategy are sound moves, as aggregates carry stronger pricing power compared to cement and ready-mixed concrete. Management reaffirmed full-year 2026 guidance with mid-point adjusted EBITDA of $2.43B. We see execution risk in achieving this target, which requires Q2-Q4 adjusted EBITDA to average $689M quarterly (+5.9% vs. 2025). The troubling dynamic of 17% revenue growth while earnings from operations declined 9% represents an inversion of expected operating leverage.

$MLM

Research60d ago

Research Alert: Illinois Tool Works: Margins Remain In Uptrend; Q1 Earnings Beat

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:ITW posted Q4 EPS of $2.66, exceeding consensus, driven by margin expansion rather than top-line momentum. Revenue reached $4.02B, up 4.6% with organic growth remaining tepid at just 0.4%, as FX provided a 3.9% lift. Operating margin expanded 60 bps to 25.4%, with enterprise initiatives contributing 120 bps to improvement, continuing the trend of operational efficiency gains coupled with sluggish organic growth. ITW raised full-year 2026 EPS guidance by $0.10 to $11.10-$11.50, representing 8% growth at the mid-point. Performance across ITW's diversified portfolio was mixed, with Welding delivering 6% organic growth and Test & Measurement posting 4.6% growth, while Specialty Products declined 4.7% and Food Equipment fell 2.8%. We view the persistent weakness in organic sales as concerning, despite encouraging margin trajectory and guidance lift, as ITW struggles to achieve broad-based growth across its wide-ranging portfolio.

$ITW

Research60d ago

Research Alert: CFRA Maintains Strong Buy Opinion On Shares Of Meta Platforms

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We cut our 12-month target to $750 from $804, on P/E of about 19x our 2027 EPS view, below its long-term historical average. We adjust our 2026 EPS estimate to $29.29 from $30.68 and 2027 to $39.39 from $36.68. After reporting strong Q1 revenue growth (+33%)/Q2 guide (+25%), we believe that META is successfully finding ways to leverage AI investments across its ad platforms (value optimization suite's $20B+ revenue run rate). Still, we are disappointed that management failed to tell a good story to investors about how it plans to monetize elevated spend/new product ambitions. Also, the potential for new monetization streams from personal AI agents, business AI subscriptions (META now averaging 10M weekly business AI conversations), and API access to Muse models could materially diversify revenue beyond advertising over the next three to five years. Shares trade at an enticing 15x-16x our CY 27 EPS, offering upside should META be able to deliver on growth ambitions and continue to monetize its ad platforms.

$META

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