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Research Alert: Hig Q1 Eps Miss Offset By Strong Underwriting, Premium Growth, And 20%+ Roes

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:HIG posted Q1 operating EPS of $3.09 versus $2.20 a year ago, missing our $3.60 estimate and the $3.39 consensus view. Operating revenue growth of 6.2% was in line with our 6%-10% forecast, driven by 5.3% earned premium growth, 13% higher net investment income, and 7.9% fee revenue growth. We remain encouraged by Q1 written premium growth of 4% and full-year 2025 growth of 7%, which bodes well for 2026 revenue trends as premiums are earned. We expect HIG to provide additional color on navigating the insurance pricing environment at the upcoming April 24 investor call. Underwriting results improved significantly, with Personal Lines combined ratio improving to 87.7% from 106.1% and underlying combined ratio to 85.0% from 89.7%, while Business Insurance combined ratio was stable at 94.8%. Book value per share rose 17% to $66.58, while operating ROE of 20.3% and net ROE of 23.0% were at the upper end of peer ranges. We are very encouraged by these strong Q1 results.

$HIG

Research63d ago

Research Alert: Edwards Lifesciences: Tavr Sales Expansion Drives Q1 Eps Beat

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Edwards Lifesciences reported strong Q1 results with sales growing 16.7% Y/Y to $1.65B and adjusted EPS of $0.78, beating consensus estimates by $0.05. Operating margin expanded to 31.4% from 29.1% in the prior-year quarter, supported by $500M in quarterly share repurchases. The company benefits from momentum generated by EARLY TAVR study data driving earlier disease intervention, while Boston Scientific's European market exit strengthened EW's TAVR positioning, in our view. EW raised full-year 2026 guidance to 10% constant currency sales growth and $3.00 adjusted EPS midpoint, representing 17% growth vs. 2025. TAVR sales of $1.20B grew 14.4% Y/Y supported by SAPIEN growth globally, with raised guidance to 8% midpoint from 7% previously. TMTT sales surged 51.9% Y/Y driven by PASCAL adoption and higher EVOQUE utilization as procedure volumes rose in the double digits. We expect continued operating margin expansion toward the high end of EW's 28%-29% guidance range in 2026.

$EW

Research63d ago

Research Alert: Digital Realty Trust Q1: Capex Guidance Up By $250m, Ffo Guidance Increases

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Digital Realty Trust delivered solid Q1 2026 results with revenue of $1.64B (+16.2% Y/Y), beating consensus by $34M, driven by continued growth from development deliveries and rental rate increases. Leasing activity reached record levels with total bookings of $707M, including $423M at DLR's share, highlighting strong operational momentum from AI-related demand across global markets. The company's strength in AI inference workloads is evident through $98M in bookings from the 0-1 MW plus interconnection category, with $79M from 0-1 MW segments and $19M from interconnection services requiring low-latency infrastructure. Q1 also featured the largest hyperscale lease in company history, underscoring the significant scale of AI training demand. We believe DLR is exceptionally well positioned to capitalize on AI infrastructure requirements, particularly for highly connected, low-latency networks that support the critical transition from AI training to inference workloads.

$DLR

Research63d ago

Research Alert: Intel Crushes Q1 And Q2 Guidance; Cpus Officially Back

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:INTC posted Q1 revenue of $13.6B (+7% Y/Y), beating our $12.4B estimate, driven by Data Center segment growth of 22% to $5.1B (vs. our $4.4B view) on strong Xeon demand for AI infrastructure. Non-GAAP gross margin expanded to 41.0% (+180 bps), well ahead of the 34.5% consensus, on higher volumes and improved utilization. We are encouraged by strengthening manufacturing execution as INTC focuses on maximizing factory efficiencies after previous supply constraints. Q2 guidance of $14.3B revenue midpoint and $0.20 EPS is well above consensus at $13.1B and $0.08. Intel 18A achieved milestones with the Core Ultra Series 3 launch, the first AI PC platform built on 18A and manufactured in the U.S., securing partnerships with Elon Musk for foundry services. We believe INTC is well positioned to benefit from growing CPU roles in AI inference applications, with significant server content growth expected in the coming years. We also see a potential line of sight to over 50% gross margins by year-end 2027.

$INTC

Research63d ago

Research Alert: America Movil Reports 25% Jump In Profit, Supported By Strong Wireless Adds

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:America Movil delivered strong Q1 results with net income rising 25.1% to MXP23.4B and earnings of MXP0.39 per share, while revenue increased 2.1% in peso terms but 6.1% at constant currency despite peso strength. Service revenue grew 4.6% at constant rates, led by mobile platform expansion of 6.4% with robust postpaid (+7.3%) and accelerating prepaid (+5.0%) growth across Mexico, Colombia, and Brazil. The company added 3.0M wireless subscribers, all postpaid, while EBITDA climbed 8.0% at constant currency with margin expanding to 39.9%, reflecting disciplined cost management and improving operating leverage. Management noted improving economic conditions in Mexico with rising wages positively affecting prepaid revenues. We believe the company's continued network investments in 5G and fiber expansion, combined with strong balance sheet metrics including conservative 1.41x net debt-to-EBITDA and proposed MXP10B buyback, position AMX well for sustained growth.

$AMX

Research63d ago

Research Alert: Newmont Posts Strong Q1 Beat Driven By Record Gold Price

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Newmont reported Q1 adj. EPS of $2.90, beating consensus by $0.73 (33%) and up from $1.25 in Q1 2025, driven by a 66% surge in realized gold prices to $4,900/oz. Revenue rose 46% to $7.3B (11% above consensus) while adjusted EBITDA nearly doubled to $5.2B, despite attributable production declining 15% to 1.30M ounces due to planned mine sequencing. We believe the results demonstrate significant operating leverage in NEM's business model during elevated gold price environments, with price appreciation offsetting volume declines. Management reaffirmed 2026 production guidance of 5.3M ounces despite lower Q1 volumes, with production weighted 52% to the second half. The company completed its $6.0B share repurchase authorization and announced an additional $6.0B program, ending Q1 with $8.8B cash and a net cash position of $3.2B. We view the combination of a fortress balance sheet strength, disciplined capital allocation, and resumption of production growth beyond 2026 as supporting the long-term value proposition.

$NEM

Research63d ago

Research Alert: CFRA Reiterates Hold Rating On Shares Of Raymond James Financial, 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 price by $10 to $170, on a P/E of 12.8x our FY 27 (Sep.) EPS view vs. RJF's three-year historical forward P/E average of 13.2x and the peer average of 11.9x. We keep our FY 26 EPS estimate at $11.87 and decrease FY 27's by $0.15 to $13.25. Our revenue projections are $15.49B (+10%) in FY 26 and $16.73B (+8%) in FY 27, supported by a robust investment banking pipeline, significant investments in technology and AI, and a strong capital position to fund future growth and acquisitions. In our view, a key positive in Mar-Q was the Capital Markets segment's rebound from its prior-quarter weakness, driven by stronger investment banking revenues that culminated in a particularly strong March. Complementing this improvement, the Bank segment demonstrated strength by achieving record loans of $54.8B, fueled by a remarkable 31% Y/Y surge in securities-based lending. RJF is leveraging its over $1.1B annual technology investment to deploy proprietary AI tools that streamline operations.

$RJF

Research63d ago

Research Alert: CFRA Raises Opinion On Shares Of Cbre Group, Inc. To Buy From Hold

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We increase our target by $15 to $170, on a forward P/E of 22.2x our 2026 EPS, a small premium to CBRE's three-year average multiple (20.2x). We increase our 2026 EPS estimate by $0.40 to $7.67 and increase 2027 by $0.87 to $8.67. We now believe commercial real estate activity growth is likely to maintain its current pace, with potential for even a single interest rate cut to increase activity further in 2H 2026. CBRE's land development pipeline remains a significant opportunity for growth but management noted monetizing assets is currently difficult as securing power, water, and public approval remains a headwind. We believe CBRE is well positioned to execute these developments and we expect profitability in this space to be less predictable Q/Q but should serve as meaningful long-term EPS growth drivers. The BOE and Project Management space continue to deliver with critical infrastructure services expected to grow 60% Y/Y this year as CBRE provides facilities management to over 1,300 data centers globally.

$CBRE

Research63d ago

Research Alert: CFRA Maintains Buy Rating On Shares Of Thermo Fisher Scientific

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 $540 from $588, 19.8x our 2027 EPS estimate, a discount to TMO's three-year historical forward average (21.5x) and its five-year historical forward average (22.7x). While we think TMO's scale and diversified business lines offer advantages over many peers, we think the valuation discount aligns with pressures facing the broader life sciences tools & services sub-industry, which recently traded at over a 16% discount to its three-year historical forward average and a 22% discount to its five-year average. As expected, academic and government end-market demand remains weak, declining in the low single digits in Q1, while China headwinds (~7.5% of overall sales) contributed to a low single-digit sales decline in the region. Following TMO's guidance raise, we increase our 2026 EPS estimate to $24.88 from $24.54 and raise our 2027 estimate to $27.34 from $26.94.

$TMO

Research63d ago

Research Alert: CFRA Lifts Opinion On Shares Of Lam Research Corporation To Buy From Hold

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 by $34 to $314, 30x our FY 28 (Jun.) EPS view, above LRCX's three-year average (~20x) on AI tailwinds and growing NAND demand. We raise our FY 26 EPS view by $0.43 to $5.72, raise FY 27's by $1.25 to $8.08, and lift FY 28's by $2.08 to $10.45. The outlook for NAND is improving, partly due to its growing importance in the AI ecosystem, especially when integrated with NVIDIA's latest computing architectures, as AI inference increasingly requires more dynamic storage. In response, LRCX accelerated its forecast for $40B of customer NAND equipment spending to "before YE 27" from "over the next several years," a material change that we think brings sizeable upside to FY 27 and FY 28 forecasts. China exposure remains elevated (34% of Mar-Q sales), making results vulnerable to tightening export controls (such as those proposed by the MATCH Act) along with self-sufficiency initiatives, but we think LRCX's trailing-edge China exposure should remain relatively safe while global leading-edge/AI demand remains the larger investment story.

$LRCX

Research63d ago

Research Alert: CFRA Raises Opinion On Shares Of Rogers 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 CAD15 to CAD55, applying an EV/EBITDA multiple of 6.5x to our 2026 estimate. We trim our 2026 EPS estimate by CAD0.04 to CAD4.86 and set 2027's at CAD5.04. Rogers announced plans to monetize its sports and media assets by bringing in external investors and expects the combined entity's value to exceed USD25B, which is anticipated to unlock significant unrecognized value and create new revenue and EBITDA synergies. It is nearing completion of its major multiyear investment cycle, allowing for a substantial reduction in capital spending while sustaining network leadership and reliability. The anticipated reduction in capital intensity (from 17% in 2025 to approximately 12% in 2026) positions Rogers for increased FCF and lower debt for the foreseeable future. Guidance for 2026 was upgraded, projecting reduced capex, increased FCF, and lower leverage, setting a strong financial outlook for the coming years.

$RCI.B

Research63d ago

Research Alert: CFRA Keeps Hold Opinion On Adss Of New Oriental Education & Technology Group

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 USD60 from USD63, at a FY 27 (May) P/E of 18x, largely in line with its three-year average, balancing our projected healthy growth outlook for EDU with regulatory risks in China. We forecast revenue to grow 8%/10% in FY 26/FY 27, mainly supported by higher enrollments for EDU's non-academic tutoring courses (such as music and sports lessons) and its ongoing expansion plan for schools and learning centers. We also expect revenue growth to sustain for the overseas test preparation and study consulting businesses. We project net margin to improve to 8.6%/9.0% in FY 26/FY 27 (7.6% in FY 25), supported by higher utilization of its existing learning centers/classrooms, better operating efficiency, and improved profit contribution from East Buy. Despite higher startup costs for new initiatives, EDU's disciplined expansion into high-income, high-growth cities should help mitigate these pressures. Our EPADS forecasts are unchanged.

$EDU

Research63d ago

Research Alert: CFRA Maintains Buy Rating On Shares Of Ibm Corporation

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our price target by $37 to $296, 23x our 2026 EPS view, above IBM's three-year average (~20x) on AI tailwinds and growing software exposure. We raise our 2026 EPS view by $0.07 to $12.86 and lift 2027's by $0.03 to $13.90. Q1 results offered a mixed response to the AI competition threat. Bears will focus on Software growth (ex-FX) decelerating to 8% from 11% in Q4 with the segment's 2026 outlook improving only slightly to 10%+ from 10% despite the Confluent acquisition closing early (providing a ~50-bp Software growth boost). Some analysts expected more out of Consulting and will point to its modest 1% sales growth as indicative of COBOL modernization pressure from emerging AI tools. We take a more bullish stance and see Consulting results as resilient, with sales/signings both growing despite ongoing macroeconomic pressures and 2026 growth still forecasted near 5%. On the Software side, ARR again grew 10% Y/Y (consistent with prior periods) and Red Hat encouragingly rebounded to 10% from 8% in Q4.

$IBM

Research63d ago

Texas Instruments To Benefit From Industrial Resurgence, Data Center Demand, BofA Says

Texas Instruments (TXN) is expected to benefit from industrial resurgence, especially in aero/defense, data center demand and rising benefits from its US-based manufacturing, according to a note by Bank of America on Thursday.The brokerage also said the company's on a path to stronger free cash flow as it moves beyond its big capital spending cycle. It also sees it able to leverage the last three years of heavy capex in US fabs to possibly gain share in an "everything-is-constrained" chip environment.BofA also said it likes Texas Instruments' positioning in DC power, where it holds "content across the rack and is seeing growing momentum in application-specific sockets" as architectures move to higher voltage/higher power-density systems.However, BofA noted that ongoing geopolitics remain a sector-wide risk, but added that TXN has historically had a relatively more defensive profile.BofA upgraded the stock to buy from neutral and raised the price target to $320 from $235.Price: $283.62, Change: $+47.31, Percent Change: +20.02%

$TXN

Research63d ago

Research Alert: CFRA Lifts View On Shares Of Packaging Corporation Of America To Hold From Sell

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:After Q1 earnings release, we raise our target price to $210 from $166, applying a 10.5x EV/EBITDA multiple to our 2026 EBITDA estimate, above PKG's five-year average of 9.73x. We lower our 2026 EPS estimate to $10.32 from $11.04 and maintain our 2027 EPS estimate at $11.72. PKG reported a mixed first quarter for 2026 with adjusted EPS of $2.40, above expectations. However, net sales for the quarter were $2.4B, falling short of the consensus view. The commercial performance in the legacy packaging business helped offset a quarterly loss from the newly acquired Greif operations and significant headwinds from higher freight costs. Demand for corrugated products was robust during the quarter, with the company's legacy business setting a new record for daily shipment volumes, which we view as a positive sign. Looking ahead, PKG anticipates continued solid demand in the second quarter and expects to realize the majority of the benefits from announced price increases in the third quarter.

$PKG

Research63d ago

Research Alert: CFRA Raises Opinion On Shares Of Las Vegas Sands To Buy From Hold

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 $2 to $65, based on 10.1x our 2026 adjusted EBITDA estimate and slightly higher than the company's three-year average forward EV/EBITDA multiple of 9.7x and above peers. We believe the company is deserving of an above-peer multiple due primarily to its Marina Bay Sands property, which has outperformed Macau and Las Vegas Casinos significantly in recent years. We see value emerging in shares after strong results and a 20% decline in shares year-to-date. LVS fell over 8% in early trading on Thursday, giving investors a great opportunity to buy shares at a discounted valuation. We believe LVS has a strong property portfolio and a robust track record of outperformance in recent years. Marina Bay Sands is experiencing continued strength, and we believe Macau is following suit with 24% revenue growth and 18% EBITDA growth in Q1. Shares currently trade under 9x consensus EBITDA estimates for the next 12 months.

$LVS

Research63d ago

Research Alert: CFRA Keeps Buy Rating On Shares Of Csx Corporation

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:After digesting Q1 2026 results, we increase our 12-month price target by $14 to $60, using an average of a forward P/E of 25.8x our 2027 EPS view of $2.21 ($57) and our DCF model, assuming a terminal growth rate of 2.5%, WACC of 6.2%, and 10-year FCFF CAGR of 12.0% ($63). We raise our 2026 EPS estimate to $1.94 from $1.86 and increase 2027's to $2.21 from $2.07. Our sales projections are $14.8 billion for 2026 and $15.5 billion for 2027. CSX's recent share price increase and bump in valuation is justified by strong operational improvements. The company has started 2026 well, with higher volumes and revenue alongside lower costs. First quarter metrics showed Y/Y gains in train speed, dwell times, and cars online, plus record Q1 fuel efficiency of 0.97 gallons per 1,000 gross ton miles. The Middle East conflict presents both opportunities and risks: rising energy prices benefit some CSX customers but could dampen consumer sentiment if inflation accelerates. Shares yield 1.2%.

$CSX

Research63d ago

Southern Cross Gold Maintained at Buy at Stifel Canada After Golden Dyke Drill Results; Price Target Kept at C$12.50

Stifel Canada on Thursday reiterated its buy rating on the shares of Southern Cross Gold Consolidated (SXGC.TO) and its C$12.50 price target after the company reported exploration results for the Golden Dyke target."Southern Cross (SXGC) recently released results from six diamond drill holes at the Golden Dyke target at Sunday Creek: Our key takeaways include: (1) a best intercept of 1.6m @ 59.8g/t AuEq from 313.8m (SDDSC203) where Golden Dyke continues to deliver high-grade; (2) growth in multiple directions where SDDSC197 expanded Golden Dyke's western boundary by 30-50m beyond the current exploration target outline and SDDSC193 mineralization extension deeper and to the east; (3) SDDSC210 intersected three samples over 10% antimony, with one reaching 227g/t Au + 10.6% Sb; (4) infill drilling (SDDSC203 and SDDSC210) confirms multiple high-grade zones where expected; and (5) one additional drill rig has been added to Sunday Creek (11 rigs now operational). We now estimate a weighted average intercept of 3.03m @ 8.96g/t AuEq, which supports the "Golden Ladder" structural model with SXGC's ongoing 200,000m program scheduled through Q1/27 with results pending on 46 holes," 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: $11.25, Change: $-0.10, Percent Change: -0.88%

$SXGC.TO

Research63d ago

Research Alert: CFRA Maintains Strong Buy Recommendation On Shares Of Servicenow 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 to $110, from $167, on a P/FCF of 20x our 2026 FCF view of $5.7B, below its three-year average. We cut our 2026 EPS view to $4.13 from $4.19, but lift our 2027 EPS forecast to $5.05 from $4.95. Q1 results beat on revenue, but non-GAAP came in line with consensus estimates. Total revenues rose 22.1% Y/Y, supported by Subscription sales of $3.67B, up 22.2% Y/Y (19% constant currency). cRPO growth of 22.6% (21% constant currency) reflected large deal momentum, with 16 deals greater than $5 million in net new ACV (NNACV), and five deals above $10 million in NNACV. We believe NOW is executing a successful AI strategy that is accelerating monetization and platform consolidation, with strong demand evidenced by 130% Y/Y growth in $1M+ AI customers. That said, the lower margin outlook (due to Armis), geopolitical headwinds, and conservative topline growth expectations are pressuring sentiment on NOW, though we believe growth drivers remain intact to support our positive view of the business.

$NOW

Research63d ago

Research Alert: CFRA Maintains Hold Rating On Shares Of Adobe Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:ADBE held its annual customer experience conference Adobe Summit earlier this week, announcing new innovations for customer experience orchestration. A key highlight of the conference was the unveiling of its first agentic product, Adobe CX Experience, to simplify customer lifecycle management, including acquiring prospective customers and driving conversions. Other highlights of the conference include the launch of Adobe Brand Intelligence and expansion of Adobe GenStudio solutions. The Summit signals ADBE's move into agentic solutions, where it has lagged large enterprise software peers in AI Agent products. Thus, we view the launch of Adobe CX Experience positively as a step toward driving greater AI adoption and monetization. ADBE also announced a $25B stock buyback program that will run through April 2030. For context, ADBE spent $11.7B in FY 25, and while we welcome returning capital to shareholders, we do not expect the buyback program to be particularly impactful.

$ADBE

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