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Research Alert: CFRA Raises Opinion On Shares Of Verizon Communications To Hold From Sell

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 by $10 to $50, applying an EV/EBITDA multiple of 7.4x to our 2026 estimate, comparable to the peer average. We raise our 2026 EPS estimate by $0.03 to $4.93 and increase 2027's by $0.08 to $5.25. VZ's turnaround program is progressing and gaining momentum, powered by a comprehensive transformation program reshaping operations and customer service. The transformation is credited with delivering a strong quarter across core operating metrics, translating performance into solid operational and financial outcomes not seen in over a decade. This feat is impressive given this is Dan Schulman's first full quarter as CEO. As a result of turnaround progress, Verizon raised its guidance for adjusted EPS growth and postpaid phone net adds for 2026. We note that there are still some areas that need to be worked on. Consumer postpaid phone net losses were 35k, despite overall positive net adds, indicating ongoing challenges in the consumer segment.

$VZ

Research61d ago

Research Alert: CFRA Raises Rating On Shares Of Nice Ltd. To Hold From Sell

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our target price to $109 from $104, on a forward P/E of 9x our 2027 EPS projection of $12.07, below its three-year average on weaker earnings growth. We lower our 2026 EPS estimate to $10.89 from $10.91 and raise our 2027 EPS forecast to $12.07 from $12.06. Our rating upgrade reflects our views on NICE's valuation and AI adoption momentum, partially offset by macroeconomic uncertainty from the continuing Iran conflict and AI displacement risks. Although risks have increased, we note encouraging AI demand reported by software vendors, and see potential for NICE's AI ARR to scale faster than expected. Agentic tools are also gaining traction in the enterprise as firms double down on automation, and the addition of Cognigy is likely to broaden and improve pipeline activity in the coming quarters. While we remain cautious of NICE's outlook, we think its current valuation (multiple has compressed 12% since our last update) sufficiently bakes in these risks.

$NICE

Research61d ago

Research Alert: Crown Holdings Q1: Delivers Revenue Beat With Strong Beverage Shipment Growth

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:CCK delivered solid Q1 2026 results, with net sales of $3,259M (+12.9% Y/Y), beating consensus by $224M, due to 5% global beverage shipment growth and successful pass-through of $234M in higher material costs. Adjusted EPS of $1.86 (+11.4% Y/Y) exceeded consensus estimates of $1.75, though reported EPS declined to $1.56 from $1.65 due to debt extinguishment charges. North American shipments advanced 1% despite a slow start to the year, with strong March performance helping overcome early quarterly weakness. The company demonstrated effective cost recovery capabilities amid persistent inflationary pressures, though margin pressures in key operating segments tempered overall profitability gains. We believe the successful material cost pass-through validates CCK's defensive pricing model and contractual protections, while sustained volume growth across key global markets supports our positive outlook for continued operational momentum and market share expansion.

$CCK

Research61d ago

Research Alert: Universal Health Services: Q1 Eps Tops Estimates

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:UHS delivered solid Q1 results, with adjusted EPS of $5.62 (up 16.1% Y/Y), $0.16 above consensus, while revenue grew 9.6% to $4.495B due to higher prices despite modest patient volumes. Same-facility acute care revenue increased 8.2% on flat adjusted admissions but 6.3% growth in revenue per admission, while behavioral health saw 1.2% admission growth and 7.3% revenue growth. We think the $835M Talkspace acquisition may expand UHS's virtual behavioral health capabilities and broaden payor mix. Management expects the deal to close in Q3. Operating cash flow improved 11.7% to $402M, and UHS repurchased $127.3M in stock, though adjusted EBITDA margin compressed 20 bps to 14.4% on higher operating expenses. We think behavioral health staffing challenges persist but expect the Talkspace integration to create growth opportunities.

$UHS

Research61d ago

Research Alert: Cls Q1: Blistering Fy 26 Guidance And Cpo Win Tempered By Capital Demands

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Q1 revenues of $4.05B (+53%) and adjusted EPS of $2.16 (+80%) both exceeded guidance on accelerating hyperscaler demand. Adjusted operating margin reached a record 8.0%, due to higher-value CCS offerings, which grew 76% to $3.24B, with segment margin expanding to 8.6%. The company secured a new CPO switch program with a hyperscaler customer expected to ramp in 2027, and we expect more color tomorrow. Management raised 2026 guidance to $19.0B revenue (from $17.0B) and $10.15 adjusted EPS (from $8.75), representing over $6.5B in revenue growth. Stronger growth is anticipated for 2027 based on improved customer visibility and new program wins. The company enlarged its balance sheet by upsizing its credit facility to $2.5B, with revolver capacity increased to $1.75B. FCF of $137.9M remained robust despite elevated capex of $218.4M to support capacity expansion. Share buybacks slowing, FCF guidance lagging, and a +50% month may be contributing to the after-hours selloff.

$CLS

Research61d ago

Research Alert: Avalonbay Communities Q1 2026: Slight Ffo Beat, But Flat Cash Noi

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:AVB reported Q1 2026 results with FFO at $2.83, flat Y/Y but $0.03 above consensus. Rental revenue rose 3.3% Y/Y while operating expenses surged 4.7%, resulting in weak same-store NOI growth of just 0.2% Y/Y. Same-store occupancy was flat at 96.1% vs. 96.0% a year ago, and turnover decreased to 31.6% from 32.1%. We like AVB's portfolio profile, with 80% exposure to premier East Coast (35%) and West Coast (45%) markets. We are monitoring the 20% Sun Belt allocation, which faces new supply pressures. The trust is guiding Q2 2026 FFO of $2.72-$2.82 per share, with full-year 2026 same-store NOI ranging from -0.7% to +1.3%. AVB has $3.39B in community developments underway that target suburban markets. We think total debt of $9.4B is manageable. Utility expenses surged 12.5% Y/Y in New England and Mid-Atlantic markets, reflecting ongoing inflationary pressures. Despite these cost headwinds, we believe there's financial flexibility to fund the development pipeline in high-barrier-to-entry coastal markets.

$AVB

Research61d ago

Research Alert: Brown & Brown Posts Mixed Q1 Results

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:BRO posted Q1 2026 adjusted EPS of $1.39 versus $1.29, modestly topping our $1.37 estimate and the $1.36 consensus view, though revenue growth of 35% to $1.9B was acquisition-driven with $435M from deals. Organic revenues were flat Y/Y at $1.35B, lagging our 4% to 8% growth forecast, while Q1 EBIT margins contracted to 28.0% from 30.4% due to acquisition costs and doubled interest expense. We believe the shares lack a near-term catalyst given below-peer organic growth rates and margin compression that removes BRO's historical premium valuation justification. Management characterized business conditions as "challenging," representing a shift from last quarter's "stable" assessment. BRO completed 43 acquisitions in 2025, including the $9.8B Accession deal, and we expect acquisitions to remain central to growth strategy as organic growth slows. In our view, the combination of flat organic growth and margin contraction will pressure the shares' premium valuation to peers.

$BRO

Research61d ago

Research Alert: Alexandria Real Estate Equities Q1: Dispositions Accelerate, Renewal Rates Down

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:ARE reported Q1 revenue of $671M (-11.5% Y/Y and $25M below consensus) vs. $754M a year ago. Rental income declined 12.1% to $653M, reflecting lower occupancy and significant pricing pressure on lease renewals across the portfolio. Rental rate changes on renewals and re-leasing showed a steep 15.0% decline (-15.8% cash basis), a dramatic reversal from the -5.5% cash renewal rate in Q4 2025. Management updated cash rental rate guidance to -14% to -7%, declining a further 300 bps since February as market conditions deteriorated. We expect continued pressure on re-leasing growth in full-year 2026 as ARE continues to optimize its portfolio of properties amid challenging life science market dynamics. The significant deterioration in renewal spreads from Q4 2025 to Q1 2026 highlights the difficult operating environment facing life science real estate, with both occupancy headwinds and rental rate pressures creating a challenging backdrop for near-term financial performance and cash flow generation.

$ARE

Research61d ago

Research Alert: Amkr: Results/outlook Ahead Of Consensus, Supported By Auto/industrial Recovery

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Q1 sales of $1.68B (+27% Y/Y) exceeded Street expectations ($1.65B) along with EPS of $0.33 (vs. Street $0.24), with Q2 revenue/EPS guidance of $1.80B/$0.47 representing larger beats vs. expectations of $1.74B/$0.31, respectively. Q2 gross margin was guided to 15.0%, above consensus of 14.8%. We point to Auto/Industrial strength as the most important result during Q1, with the segment's 28% Y/Y growth continuing to show acceleration over the past several quarters following a long period of weakness. Tariff reductions should help, though emerging issues like the Strait of Hormuz closure and ongoing memory shortage could challenge this recovery thesis in the coming quarters. AMKR lowered its 2026 capex outlook slightly from ~$3.0B to ~$2.75B, a total that remains substantial as it looks to support TSMC's ambitions in Arizona, which will likely necessitate borrowing/higher interest costs. We consider the reduced capex forecast to reflect a narrowing of expectations rather than lower demand projections.

$AMKR

Research61d ago

Research Alert: Crane Tops Q1 Earnings; Oe Sales Acceleration Continues

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:CR delivered strong Q1 results with EPS of $1.65 (up 15% Y/Y), beating consensus expectations of $1.45. The outperformance prompted CR to raise full-year adjusted EPS guidance to $6.65-$6.85 from $6.55-$6.75, representing 12% growth at the midpoint. We attribute the beat and raise to successful integration of recent acquisitions and organic sales expansion within OE aerospace equipment. Aerospace remained the primary growth driver with 9.4% core sales growth to $318M, supported by 16% OEM growth and 14% backlog expansion reflecting favorable aircraft production ramp-ups. Process Flow Tech showed mixed results with a 0.6% organic sales decline offset by strong acquisition contributions, bringing total segment sales to $378M. We're encouraged by M&A activity following divestitures and believe CR's aerospace expansion will fuel additional earnings growth, though we expect near-term margin dilution before cost synergies materialize.

$CR

Research61d ago

Research Alert: Tfii Q1: Ltl Limps Along As Freight Market Strength Drives Strong Q2 Guidance

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Q1 EPS of $0.69 beat the internal target range of $0.50-$0.60 despite challenging conditions, while total revenue of $1.95B was essentially flat and operating income declined 15.7% to $96.6M. Operating margin contracted 100 bps to 5.7% amid volume pressures and $6.7M in incremental accident expenses. Segment results diverged sharply, with Truckload operating income up 14.3% to $55.8M and Logistics up 10.3% to $34.4M, while LTL struggled with operating income down 35.0% to $30.6M as margin compressed 220 bps to 4.7%. Management guided Q2 adjusted EPS to $1.50-$1.60, suggesting meaningful improvement in freight dynamics. The company raised its quarterly dividend 4.4% to $0.47 per share and generated free cash flow of $123.7M. We remain concerned about continued LTL weakness, as the segment's operating ratio deteriorated 220 bps to 95.3% amid softer industrial demand, tempering optimism from the stronger Q2 guidance.

$TFII

Research61d ago

Research Alert: Cinf Q1 2026: Strong Earnings, Revenue Growth, And Personal Lines Improvement

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:CINF posted Q1 operating EPS of $2.10 versus a $0.24 operating loss per share a year ago, matching our estimate and topping the $1.94 consensus view. Results reflected 12% higher operating revenues driven by 11% premium growth and 14% higher net investment income, with written premium growth of 7% likely at the upper end of peer averages. We believe CINF's competitive strengths include its facile underwriting style and ability to allocate underwriting capital to areas with the most promising fundamentals, positioning it well despite increasingly competitive market conditions. Management will provide more color on current market conditions during tomorrow's investor call. The property-casualty insurance market is at a turning point. Property Lines are becoming more price-competitive after years of significant rate hikes, while Casualty Lines pricing remains strong due to high claim costs and climate-related weather volatility affecting Personal Lines profitability.

$CINF

Research61d ago

Research Alert: Ventas: Revenue Beats, $1b In New Senior Housing Properties Acquired In Q1

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:VTR reported Q1 revenue of $1.66B, up 22.0% Y/Y (+5.8% Q/Q) and $81M ahead of consensus estimates, with same-store cash NOI rising 8.7% Y/Y driven by strong Senior Housing Operating (SHO) performance (+15.4% Y/Y). Outpatient Medical and Research (OMR) contributed +2.4% NOI growth while Triple-Net (NNN) added +1.6% Y/Y growth, demonstrating diversified portfolio strength across all business segments. SHOP fundamentals remain exceptionally robust with occupancy increasing 310 bps Y/Y (+30 bps Q/Q) to 90.4% and average monthly revenue per occupied room (RevPOR) up 5.0% Y/Y to $5,512, demonstrating continued strong pricing power in senior housing markets. Cash NOI margins expanded significantly with SHOP margins increasing 170 bps to 30.0%, while OMR margins contracted 80 bps to 64.6% compared to Q1 2025 levels. The strong operational execution in SHOP continues to drive both occupancy gains and margin expansion, positioning VTR well for sustained NOI growth going forward.

$VTR

Research62d ago

Research Alert: Cdns Posts In-line Organic Results/guidance; Sd&a Growth Remains Stuck

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:CDNS posted Q1 sales of $1.47B (+19% Y/Y), modestly beating consensus ($1.45B), with non-GAAP EPS of $1.96 (+25% Y/Y) also beating the Street ($1.89). Non-GAAP operating margin reached 44.7% (+300 bps Y/Y), above a guidance midpoint of 44.5%, while backlog set another record at $8.0B (+25% Y/Y, +3% Q/Q). IP again led sales growth, up 22% on robust AI spending and growing auto demand. Core EDA impressed with +18% Y/Y growth, accelerating from Q4's +8%, though SD&A remained flattish organically despite reported +18% growth (we estimate $38M of sales owing to the Hexagon D&E acquisition), results that continue to bring concerns about increased competition from SNPS/Ansys. FY 26 revenue guidance ($6.175B) was mostly unchanged ex-$280M or so from Hexagon, with non-GAAP EPS of $7.90 down from a prior $8.10 view given integration costs. We expect new agentic AI tools to boost margins and Core EDA sales growth, but product ramps are in their early stages. China sales remain resilient at 13% of revenue.

$CDNS

Research62d ago

Research Alert: Largely In-line Quarter And Guidance Not Good Enough For Investors

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:RMBS posted Q1 revenue of $180.2M (+8% Y/Y), beating the $170M consensus, driven by product revenue of $88.0M (+15% Y/Y) from DDR5 leadership and AI solutions. Non-GAAP EPS of $0.63 (+7% Y/Y) missed the $0.64 consensus despite strong top-line performance. The continued strength in memory interface solutions reflects sustained market leadership as data center and AI applications demand higher bandwidth capabilities. Q2 guidance implies total revenue of $199M at midpoint, with product revenue projected at $95M-$101M and licensing billings of $76M-$82M. Operating margins faced pressure, declining to 42% non-GAAP due to higher expenses, though cash generation remained strong at $83.2M. The balance sheet strengthened with cash reaching $786.1M and no long-term debt, providing resources for R&D investment. We believe the revenue mix shift toward higher-growth products (now 49% of total) positions RMBS well, though we caution that memory constraints or server bottlenecks could create headwinds going forward.

$RMBS

Research62d ago

Research Alert: Public Storage: Revenue And Ffo Beat, Same-store Noi Growth Now Positive In Q1

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:PSA reported Q1 revenue of $1.21B, up 2.9% from $1.18B in Q1 2025 and $7M ahead of consensus estimates. Same-store performance showed continued stabilization with revenue now flat at $1.0B, while NOI increased 0.4% to $739M, marking a positive inflection point. Declining repairs and maintenance costs (-5.8%) and marketing expenses (-4.5%) created meaningful tailwinds for positive same-store NOI growth in Q1, demonstrating effective cost management. Despite the improvement in same-store revenue and NOI performance in Q1, PSA maintained its prior guidance for same-store NOI growth down 3.9% to down 0.5% for FY 26. The company's disciplined cost management initiatives appear to be supporting margin expansion even as revenue growth remains modest across the portfolio. We believe the maintained guidance suggests management remains appropriately cautious about the broader operating environment despite the encouraging Q1 stabilization trends in key metrics.

$PSA

Research62d ago

Research Alert: Sanmina Corporation Beats Q2 Fy 26 Expectations On Strong Demand For Zt Systems

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:SANM delivered exceptional Q2 results, with revenue of $4.01B (+102% Y/Y) and non-GAAP EPS of $3.16 (+124% Y/Y), crushing guidance of $2.55-$2.85. ZT Systems significantly outperformed expectations with accelerated compute shipments, while core Sanmina grew 7.3% independently. Non-GAAP operating margin expanded to 6.4% from 5.6% prior year, validating our thesis that ZT can deliver immediate accretion while maintaining operational discipline during integration. Management raised FY 26 revenue guidance to $13.7B-$14.3B, based on strong performance and AI infrastructure backlogs visibility. We believe the combination positions SANM well for continued AI infrastructure strategy execution, supported by robust balance sheet with $1.58B cash and new $600M share repurchase authorization. However, elevated leverage from $2.17B total debt requires monitoring despite strong $342M Q2 free cash flow generation comfortably supporting debt service requirements.

$SANM

Research62d ago

Research Alert: CFRA Keeps A Hold View On Shares Of Meritage Homes Corporation

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We maintain our 12-month target price of $73, calculated using a 11.5x multiple against our 2027 EPS view of $6.37. Our multiple is a premium to the 10-year forward P/E mean of 7.9x, reflecting MTH's 60-day closing strategy that has the potential to move volumes in a normalized environment. We revise our 2026 EPS view to $4.96, down from $6.61 and 2027 revised to $6.37 from $8.08. We expect elevated incentives will keep a lid on MTH's margins, while a competitive landscape limits significant market share gains. MTH's primary growth driver, an aggressive expansion in community count, helps offset slower per-store sales but adds its own pressures in a limited demand environment. However, MTH trades at a 20% discount to book value, reinforced by MTH's share repurchase program, providing downside support for shares. While we expect Q2 to benefit from favorable comps, we would like to see tangible improvement in housing demand in 2H 2026 before becoming more bullish on shares.

$MTH

Research62d ago

Research Alert: CFRA Keeps Sell Opinion On Shares Of Ggg

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 to $70 from $80, valuing shares at 21x our 2027 EPS outlook of $3.36 (down from $3.46; 2026 EPS estimate revised to $3.10 from $3.18), a discount to GGG's historical multiple average given high uncertainty around a sustained recovery in the housing market. GGG's Q1 print was disappointing, with organic revenues declining amid broad-based weakness across most geographies, particularly in Asia-Pacific. While acquisitions provided some offset to total sales growth, all three segments experienced organic revenue headwinds, with profitability deteriorating. GGG continues to navigate a challenging operating environment given soft residential markets. Pricing continues to prop results up, though ongoing volume decline will continue to limit upside, in our view. Industrial orders were a bright spot in Q1 given an expanding manufacturing base in the U.S., though the downtrend in the Contractor business will need to stabilize to not offset the emerging demand pick-up.

$GGG

Research62d ago

Research Alert: CFRA Keeps Buy Opinion On Shares Of Ameriprise Financial, Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We keep our 12-month target price of $550, valuing AMP shares at 12.5x our 2026 adjusted EPS estimate of $43.84 (raised by $1.34) and at 11.7x our 2027 EPS estimate of $46.90 (raised by $0.70). This compares to the three-year average forward multiple of 12x and peer average of 15.5x. AMP posted Q1 2026 adjusted operating EPS of $11.26 vs. $9.50, a 19% rise that topped our $10.12 estimate and $10.21 consensus view. Revenue growth of 11% exceeded our forecast and our 6%-10% growth forecast for 2026, while pretax adjusted operating margins expanded 130 bps to 28% on revenue gains and cost containment efforts. We now see revenue growth of 7% to 12% in 2026 and 2027. AMP also continued its substantial capital return program, returning $936M to shareholders in Q1 (70% of adjusted operating earnings) and $3.4B in 2025 (88% of earnings). Currently trading at 10.9x our 2026 EPS estimate, and with some decent revenue and earnings momentum, we view the shares as undervalued versus peer and historical averages.

$AMP

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