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Research Alert: CFRA Upgrades View On Pnr Shares From Buy To Strong Buy

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Following a nearly 15% drop in shares YTD, we view shares as being attractively valued with a healthy margin of safety. We attribute the decline this year to ongoing weakness in residential markets (PNR's largest end-market exposure) and conservative guidance. PNR shares are trading below their historical multiple average and well below peers on a forward P/E (NTM) basis. We see headwinds as being more than priced in at this point, with upside in shares if residential markets enter even a modest recovery. Our upgrade is made in part due to indications that repair and remodeling investment is beginning to recover in U.S. markets, which bodes well for PNR's Pools business looking to Q1. Assuming residential markets remain roughly flat, we see new products and efficiency initiatives supporting PNR's earnings quality in 2026. We reiterate our 12-month target of $130, valuing shares at 22x (below peer average of ~24x) our 2027 EPS outlook of $5.92 (unchanged estimate; 2026 EPS of $5.40 is also unchanged).

$PNR

Research76d ago

Research Alert: CFRA Upgrades Opinion On Shares Of Rok 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 upgrade our view on shares of ROK to Buy from Hold and adjust our 12-month target to $465 from $430, valuing shares at 34x our FY 27 EPS outlook of $13.69 (up from $13.47; FY 26 EPS view adjusted to $12.19 from $12.02), roughly in line with the company's long-term historical multiple average. Safety stockpiling of inventory amid tariff concerns and supply chain pressures has thrust the manufacturing sector back into expansion, with orders and production currently in a state of growth. Additionally, we believe that as reshored manufacturing capacity increasingly comes online, that capital investment will ramp up specifically for automation systems and controls. As demand recovery broadens out, we believe that pricing realization will accompany volume growth and drive earnings expansion into the double digits for FY 26 and FY 27. Outside of market dynamics, we anticipate internal efforts to enhance efficiency and cut exposure to lower value products will bear fruit over the next several quarters.

$ROK

Research76d ago

Research Alert: CFRA Upgrades Intel To Buy From Hold; Cpus Revive, Foundry Prospects Improving

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 to $75 from $50, based on ~28x our 2028 EPS estimate ($2.64), above peer and historical P/E averages. Although valuation for INTC is outside our comfort zone, we see considerable upside to revenue and margin expectations (gross margin now has line of sight over 50% by 2027/2028 vs low 40s from the Street), as the CPU market has tightened in recent months. We believe the shift toward greater AI inferencing/AI Agents creates a new growth opportunity for CPUs, and while INTC had some execution issues last quarter, we expect improved results in 2H and 2027. Lead times for CPUs have extended considerably in recent months, which has also led to an upward bias to pricing that we expect to finally drive healthy gross margin expansion. Also, we expect INTC to capture more foundry orders in 2H as it demonstrates success for its internal products at leading-edge nodes, which will serve as an additional catalyst and bode well for long-term prospects of the company.

$INTC

Research76d ago

CIBC Maintains ATCO's Outperformer Rating and C$72 Price Target

CIBC Capital Markets on Thursday maintained its Outperformer rating and C$72 price target on the shares of ATCO (ACO-X.TO) after hosting a fireside chat with Adam Beattie, President of ATCO's Structures and Katie Patrick, Chief Financial Officer and Chief Investment Officer of ATCO Ltd., to discuss ACO's Structures & Logistics (S&L) business. The bank said it had also done a "deeper dive" on S&L, and ATCO remains "a top pick".CIBC said that, overall, the company update reinforced its "constructive view" on S&L given multiple policy/industry tailwinds that should help drive durable and more diversified growth."That said," it added, "ACO.X's commentary alone may not be sufficient to sway the marginal buyer of the stock -- limitations on disclosures could temper near-term re-rating potential despite a favourable demand backdrop and solid execution to date."CIBC said multiple tailwinds support a "positive outlook", noting that S&L benefits from multiple demand drivers, including Canada's support for large infrastructure projects (energy export buildout), rising defence spending, mineral extraction activity, and growing commercial and residential housing needs. "Modular housing could become more meaningful -- we believe ACO.X should be competitive in the Canadian military housing tender (strong history of serving defence) in the next year," the bank added.CIBC further noted that, in the U.S., there's "material runway to scale and grow" into new regions/markets as reshoring and the data centre buildout drive demand. It noted there are also strong data centre tailwinds in Australia."Data centres were flagged as increasingly attractive given improving economics and longer rental durations (typically 36-48+ months vs. 6-36 months for traditional rentals)," said CIBC. Currently holding only about 2% U.S. market share (representing 15% of S&L revenue), ATCO is well positioned to expand in this end market, the bank added.CIBC noted that ATCO emphasized that industrial (infrastructure, construction, resources) should continue to provide a "resilient, high-margin earnings base", while commercial and residential modular growth "should accelerate (off a smaller base)". CIBC said while margins in the latter will be lower near term, it said it does not expect material EBITDA margin contraction for S&L, with top line growth supporting earnings growth. "Further, we do not expect a step up in capex to support this growth (should remain in line with recent levels), and the strong growth can largely be leveraged off existing manufacturing capacity," added CIBC. "Trailing 3-year CAGRs (2022-2025) for revenue/EBITDA are 11%/26%."CIBC forecasts 3-year CAGRs for 2025-2028E for revenue/EBITDA of 8%/9%. It added that its revenue forecast could be conservative.CIBC noted ATCO reiterated its view that S&L is undervalued at current prices which is a view the bank shares. CIBC believes "enhanced disclosures (e.g. a backlog or explicit revenue/margin targets) could help", but noted ACTO seems reluctant to provide.(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: $72.28, Change: $+2.18, Percent Change: +3.11%

$ACO-X.TO

Research76d ago

Update: Seaport Upgrades Madison Square Garden Sports to Buy From Neutral, Sets $430 Price Target

(Updated to include Seaport's commentary)Seaport upgraded Madison Square Garden Sports (MSGS) to buy from neutral ahead of the potential spin later this summer that separates the Knicks and Rangers into their own standalone companies.While noting that a unique, punitive tax code impact that starts in 2027 could open up the aggregate of the two companies into more tax expense, the brokerage mentioned that the separation could, at the same time, facilitate a minority shareholder investment, which could help offset years of added tax burden and provide a clear valuation benchmark, acting as a significant enough catalyst for the stock.Madison Square Garden Sports has an average rating of overweight and mean price target of $367.50, 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: $329.70, Change: $+7.50, Percent Change: +2.33%

$MSGS

Research76d ago

Research Alert: CFRA Maintains Strong Buy Rating On Vrt Shares

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Data center spend remains in an uptrend in 2026, with recent U.S. census bureau data indicating that data center construction spending has now eclipsed investments in commercial office buildings. We revise our EPS growth assumptions higher ahead of VRT's Q1 print in late April, updating our 12-month target to $325 from $285, valuing shares at 38.8x our 2027 EPS outlook of $8.37 (up from $8.15; 2026 EPS view changed to $6.18 from $6.04), an above-trend multiple that we see as warranted given VRT's multi-pronged approach to capitalizing on unprecedented demand for electrical management and thermal cooling technologies. In our view, VRT has done a commendable job of positioning itself as a leading manufacturer and service provider of data center infrastructure, developing a "systems" approach to their offerings that helps to deepen the company's competitive positioning. VRT continues to successfully leverage partnerships, accelerating product development and further embedding the company in the AI ecosystem.

$VRT

Research77d ago

G2 Goldfields Maintained at Buy at Stifel Canada as It Agrees to be Acquired by G Mining Ventures

Stifel Canada on Friday maintained its buy rating on the shares of G2 Goldfields (GTWO.TO) and its C$8.50 price target after the company agreed to be acquired by G Mining Ventures (GMIN.TO) for shares worth C$3 billion."G Mining Ventures announced an all-share deal to acquire GTWO at an ~80% premium to Wednesday's close. The deal implies total consideration of C$3.0B, or C$10.84/sh (0.212 GMIN shares per GTWO). We are constructive on this transaction, noting combined potential of Oko West and Oko-Ghanie main to produce >500kozpa Au. We see the acquisition implying 0.66x GTWO P/NAV (consensus), higher than the ~0.45x GMIN acquired RGD for in 2024. Further, we note the G3 SpinCo (including Peters Mine) is currently being priced in at ~7-20% (prelim value estimate), providing optionality to continued discovery with a fertile property package and proven mgmt. We see this deal as a sign mid-tier producer/developer M&A is favouring infrastructure proximal, near-term production potential with exploration upside and note OMG under coverage as a natural read through; trading at 0.31x [unfunded, risked 'takeout' NAVPS of C$6.53]," analyst Cole McGill 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: $10.84, Change: $+0.06, Percent Change: +0.56%

$GMIN.TO$GTWO.TO

Research77d ago

G Mining Ventures Reiterated at Buy at Stifel Canada as It Agrees to Buy G2 Goldfields; Price Target Kept at C$65.00

Stifel Canada on Friday maintained its buy rating on the shares of G Mining Ventures (GMIN.TO) and its C$65.00 price target after the company agreed to acquire G2 Goldfields (GTWO.TO) for shares worth C$3 billion."G Mining Ventures (GMIN) announced a definitive agreement to acquire all outstanding shares of G2 Goldfields in an all-share transaction valued at about C$3.0 billion on a fully diluted equity basis. The transaction strategically consolidates GMIN's fully permitted Oko West and GTWO's Oko-Ghanie, creating a tier-one gold mining hub in Guyana with the potential to produce 500+Koz of gold per year on LOM average basis, including Oko West expected production of approximately 350Koz/yr (FS June 2025) and Oko-Ghanie expected production of 228Koz/yr (PEA December 2025). We estimate the transaction values GTWO at 0.77x on P/NAV and is 6.5% accretive to our GMIN NAVPS including synergies, but excluding the 25%-30% throughput expansion potential at Oko West (1.1% accretive excluding synergies). GMIN plans to move quickly through technical studies with an intention to release a technical report in 2027, targeting expanded production by H1/29," 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: $49.78, Change: $-0.62, Percent Change: -1.23%

$GMIN.TO

Research77d ago

Imperial Oil Maintained at Hold at TPH Ahead of Q1 Results; Price Target at C$150.00

Tudor, Pickering, Holt on Friday maintained its hold rating of the shares of Imperial Oil (IMO.TO, IMO) with a C$150 price target ahead of the oil producer and refiner's first-quarter results."With our pre-earnings model update this week, we increased our Q1'26 CFPS estimate to C$3.39 from our prior C$2.90, now above Street C$2.97 though recent estimates looking more in-line with current TPHe. While MTM factors aided across the board, Upstream stands out as the driver for our improved earnings estimates, with MTM factors for Downstream partially offset by a true up to or assumptions on capture rate," analyst Jeoffrey Lambujon 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: $178.16, Change: $+0.68, Percent Change: +0.38%

$IMO$IMO.TO

Research77d ago

Cenovus Energy Maintained at Buy at TPH Ahead of Q1 Results' Price Target at C$42.00

Tudor, Pickering, Holt on Friday maintained its buy rating on the shares of Cenovus Energy (CVE.TO, CVE) with a C$42.00 price target ahead of the oil producer and refiner's first-quarter results."In our pre-earnings model update, we increased our Q1'26 CFPS estimate to TPHe C$1.40, up from our prior C$0.97, which sits well above Street C$1.09 though we'd anticipate positive estimate revisions in the coming weeks. MTM (mark to market) impacts were the primary driver of our refresh, with our operational assumptions only modestly nudged lower across CVE's segments," analyst Jeoffrey Lambujon 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: $35.82, Change: $+0.34, Percent Change: +0.96%

$CVE$CVE.TO

Research77d ago

Research Alert: Cls Downgraded To Buy On Multiple Reversal: Tp Cad504

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We downgraded Celestica from Strong Buy to Buy on valuation as shares and valuation multiples have risen ~25% in a month. We raise our target price to CAD504 from CAD444 on an earnings multiple of 30.0x (+2.0x) and EBITDA multiple of 24.0x (+4.0x) as the AI infrastructure space has rebounded and digested the turmoil in the Middle East. We continue to believe CLS is best-in-class, and we remain confident in its positioning with hyperscalers and do not foresee an AI infrastructure slowdown. Q4 and FY earnings revealed a strong double beat, with FY 26 guidance raised and plans to increase manufacturing on $1B capex spend (~5x increase Y/Y) and an additional hyperscaler win. We view the results as bullish and continue to like the company's execution amid the AI megatrend.

$CLS

Research77d ago

UBS Downgrades SiteOne Landscape Supply to Neutral From Buy, Cuts Price Target to $140 From $182

SiteOne Landscape Supply (SITE) has an average rating of overweight and mean price target of $170.46, 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: $134.58, Change: $-0.03, Percent Change: -0.02%

$SITE

Research77d ago

Research Alert: CFRA Keeps Strong Buy Recommendation On Shares Of Amazon.com, Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Ahead of AMZN's Q1 print, we trim our 12-month target to $285 from $296, 30x our 2027 EPS of $9.48 (was $9.87; 2026 to $7.60 from $8.00). While this remains a premium to the ~25x peer average, it implies a three-year PEG of 1.5x vs. 2.0x for peers. Our revised estimates reflect elevated AI investment, with total net capex likely rising 50%+ to roughly $200B (~60% three-year CAGR), with a large portion of these investments monetized in 2027/2028. At this scale of spend, alongside strong demand for AMZN's in-house chips (Trainium2 largely sold out; Trainium3 nearly fully subscribed), strong AWS backlog figures, and expanding power capacity, we have high conviction that AWS growth can accelerate from ~20% in 2025 to the high-20% range in 2026 and the mid-30% range in 2027. Elsewhere, we expect continued retail margin expansion, driven by improved fulfillment efficiencies and strength in high-margin digital ads. Profit growth should improve in 2H 2026 as Amazon Leo costs move from the P&L to the balance sheet.

$AMZN

Research77d ago

Research Alert: CFRA Drops Coverage On Shares Of Joyy Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We are dropping STARS coverage on shares of JOYY Inc. as of April 10, 2026, in favor of stocks with greater investor interest. Our last recommendation on the shares was Hold.

$JOYY

Research77d ago

Roots Downgraded To Hold At TD

Roots Corp. (ROOT.TO) was downgraded to Hold from Buy at TD Securities Friday.Analyst Brian Morrison raised his price target on shares of the Canadian retailer to $4.25 from $4 following its quarterly results."Q4/F25 solid results were in line, a combination of new product, client favourites, and heightened marketing investment supporting strong DTC sales," Morrison said in a note to clients."While brand momentum is continuing into F2026, we believe the strategic review process is currently the key investor focal point," the analyst said."We believe there is a high probability for a potential monetization event, that we believe should support a valuation multiple toward the low end of its peer group," Morrison said."Given the recent share price appreciation approaching our view of 'fair value' we are lowering our recommendation to Hold."(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)

$ROOT.TO

Research77d ago

Scotiabank Downgrades TELUS to Sector Perform From Sector Outperform, Adjusts Price Target to CA$21.50 From CA$23

$TU

Research77d ago

Citigroup Downgrades Similarweb to Neutral From Buy, Adjusts PT to $3 From $8.50

Similarweb (SMWB) has an average rating of overweight and mean price target of $5.42, 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)

$SMWB

Research77d ago

JPMorgan Downgrades Nutanix to Neutral From Overweight, Adjusts PT to $44 From $55

Nutanix (NTNX) has an average rating of overweight and mean price target of $55.71, 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)

$NTNX

Research77d ago

Citigroup Downgrades Veeva Systems to Neutral From Buy, Adjusts Price Target to $176 From $291

Veeva Systems (VEEV) has an average rating of overweight and mean price target of $272.19, 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)

$VEEV

Research77d ago

Citigroup Downgrades DocuSign to Neutral From Buy, Adjusts PT to $50 From $99

DocuSign (DOCU) has an average rating of Hold and mean price target of $62.33, 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)

$DOCU

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Research76d ago

CIBC Maintains ATCO's Outperformer Rating and C$72 Price Target

$ACO-X.TO