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Research Alert: T-mobile Posts Industry-leading Q1 Results, Adds 217k Postpaid Accounts

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:T-Mobile reported Q1 2026 EPS of $2.27 vs $2.58 in Q1 2025, impacted by $476M UScellular merger costs and $105M transformation expenses, though service revenues grew 11% to $18.8B, with postpaid service revenue up 15% to $15.6B. Postpaid net account additions of 217k (+6% Y/Y) demonstrated continued market share gains despite earnings pressure from strategic investments. Industry-leading operational performance reflects network differentiation driving customer acquisition, with record switcher share citing network quality and fastest fixed wireless speeds. Management raised 2026 guidance for postpaid adds to 950K-1.05M, EBITDA to $37.1B-$37.5B, and FCF to $18.1B-$18.7B. Strong FCF of $4.6B enabled $6.0B stockholder returns, with Board increasing authorization to $18.2B from $14.6B. We expect continued profitable growth through network leadership, fiber expansion targeting 3M-4M customers by 2030, and scaling of T-Ads and T-Mobile Visa services.

$TMUS

Research104d ago

Research Alert: CFRA Lowers Rating On Amkor Technology Inc. To Strong Sell From Sell

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lift our price target from $32 to $51, 25x our 2026 EPS view, above AMKR's three-year average (~19x) on AI tailwinds. We lift our 2026 EPS view by $0.33 to $2.03 and 2027's by $0.05 to $2.30. Q1's results impressed, but we think shares' meteoric rise this year (+85%) more than reflects the potential upside associated with rising AI data center volumes (with related revenue likely to triple in 2026), while downside risk associated with the emerging memory shortage remains ignored despite vulnerabilities across AMKR's historically largest markets, Communications (44% of Q1 sales) and Auto/Industrial (21%). Given the company's nonexistent backlog, we think a downside surprise to 2H smartphone builds could swiftly reverse 1H's likely strength (including +42% for Communications in Q1), pressuring cash flow and necessitating more debt in order to fund AMKR's ambitious capex plans. Auto/Industrial's continued recovery (including +27% in Q1) also looks at risk of limited memory access, hurting volumes.

$AMKR

Research104d ago

Research Alert: CFRA Keeps Hold Rating On Shares Of Zimmer Biomet Holdings

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 $92 from $100, representing 10.1x our 2027 EPS estimate, a discount to ZBH's five-year average forward P/E of 15.2x. We slightly lift our 2026 EPS view to $8.55 from $8.50 to reflect the Q1 EPS beat. We lower our 2027 EPS to $9.12 from $9.18 as we anticipate some margin pressures. We maintain our Hold rating after Q1 earnings release today as we view 2026 to be a transitional year amid an important leadership change with the long-tenured CFO's departure. Zimmer Biomet reported a better-than-anticipated start to 2026, highlighting healthy end markets, yet management kept the sales guidance intact for 2026, pointing to modest 2.5%-4.5% Y/Y reported growth and 1.0%-3.0% Y/Y organic constant currency growth. ZBH also announced the departure of its CFO, Suketu Upadhyay, who will be joining Incyte as the new CFO. The company has appointed Paul Stellato, its current Controller and Chief Accounting Officer, as the interim CFO, while conducting a search for a permanent successor.

$ZBH

Research104d ago

Research Alert: Paccar: Q1 Eps Match Expectations; Class-8 Outlook Reiterated

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:PCAR's Q1 results matched consensus with operating EPS of $1.15 vs. $0.96 in the prior year, supported by the absence of litigation charges that impacted Q1 2025. New truck deliveries fell 7K units to 33.1K globally, with North American Class-8 shipments declining while Europe showed strength. The Parts business managed positive expansion despite truck sales softness, benefiting from strategic investments in distribution infrastructure. Management maintained an upbeat tone on customer demand trends, though their North American outlook for retail Class-8 truck sales remained unchanged from Q4. PCAR generated healthy operating cash flow of $972M vs. $910M and maintained a strong balance sheet, in our view. Management projected full-year capex of ~$750M and R&D expenses of ~$475M for next-generation powertrains. We see the unchanged shipment projections as a signal that management is not entirely confident an inflection is occurring stronger than previously anticipated.

$PCAR

Research104d ago

Research Alert: CFRA Keeps Sell Opinion On Shares Of Dollar Tree, 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 to $85 from $100, about 13x our FY 27 (Jan.) EPS of $6.49 (cut from $6.67 and below DLTR's guidance range of $6.50 to $6.90). We cut our FY 28 EPS to $7.09 from $7.23. This multiple is a notable discount to the company's long-term average forward P/E of 18x. We think a discount is warranted given risks associated with the company's multi-price rollout, which we believe introduces more competition and will make it difficult for DLTR to sustain traffic growth. We also note some one-time or transitory benefits to earnings growth in FY 27, including lower re-stickering costs associated with the multi-price rollout, along with higher TSA income from the divested Family Dollar business. Finally, freight costs, which served as a meaningful tailwind over the past year, are now reversing course. We expect rising freight to emerge as a more significant headwind as the fiscal year progresses, with potential downside implications for both margins and EPS.

$DLTR

Research104d ago

Research Alert: CFRA Maintains Buy Opinion On Shares Of Spotify Technology S.a.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lowered our target by $75 to $500 using a more conservative forward TEV/EBITDA multiple at 31.1x compared to the three-year historical average at 55.5x. SPOT's share price is weak today. We think the sell-off is attributed to recognizing that the company's revenue growth potential may be mid-teens at best vs. historical growth above 20%. We reduced our revenue projections in 2026 to EUR19.6B (prior EUR20.1B) and in 2027 to EUR22.5B (EUR22.8B); forecasting 13%-15% revenue growth. With wider margins, we increased our 2026 EPS estimate by EUR0.75 to EUR13.55 and keep 2027's at EUR15.50. SPOT is growing faster in regions of the world that command significantly lower subscriber pricing, which hurt consolidated revenue growth. Also, Ad-Supported plans were disappointing in Q1 2026, declining 102 bps Y/Y to 13%. This was attributed to content costs from higher engagement on the free tier growing faster than ad revenue. Management views this as a temporary issue that will reverse as monetization catches up.

$SPOT

Research104d ago

Research Alert: Xylem Delivers Q1 Beat; Margins Tick Higher

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:XYL delivered mixed Q1 results, with EPS of $1.12 beating consensus by $0.04 on operational execution, though orders were flat Y/Y. Revenue of $2.1B was flat organically, with strong Measurement & Control (M&C) sales (up 15%) offset by Water Solutions declines (down 15%). We attribute the beat to margin expansion and operational improvements from transformation initiatives, with adjusted EBITDA margin improving 20 bps to 20.6%. Management raised full-year revenue guidance to $9.2B-$9.3B from $9.1B-$9.2B, while maintaining EPS guidance at $5.35-5.60. Segment results were mixed, with M&C serving as a growth engine delivering 18% order growth on robust smart water tech demand, while Water Solutions orders declined 12% due to timing. We believe XYL's 80/20 simplification strategy continues supporting profitability amid inflationary pressures, though we take unchanged EPS guidance as lacking confidence that higher sales will translate to better margins.

$XYL

Research104d ago

Research Alert: CFRA Reiterates Sell Opinion On Shares Of United Postal Service, 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 at $92, 12.6x our next-12-month EPS view of $7.34. We trim our 2026 EPS view by $0.06 to $7.00 and 2027 by $0.44 to $7.52. Q1 offered some positives with top- and bottom-line beats and better-than-guided International profits (-15.7% vs. -30.0%). Management maintained its 2026 guidance of $89.7B revenue and 9.6% adjusted operating margin, projecting operational inflection in Q2. We think revenue goals are reasonable, but we think margin goals are overly optimistic as we estimate Q2-Q4 requires an average margin of ~10.7%. Consumer spending trends in the U.S. lead us to believe a pullback was materializing prior to the conflict in Iran and we expect that to accelerate. Declines in B2B volumes (-5.1%) indicate industrial weakness. We think cost recovery via fuel surcharges will fail to deliver on profit protection as consumers become less accepting of price increases. Continued margin compression could pressure dividend feasibility as our 2026 EPS view implies a ~94% payout ratio.

$UPS

Research104d ago

Research Alert: CFRA Keeps Buy On Celestica: Tremendous Fundamental Momentum & Cpo Program Win

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Q1 2026 was a double beat for CLS, and we maintain our Buy rating. More impressive than the beats was that guidance for 2026 was significantly increased from just a quarter ago. The 2026 revenue guidance was raised to $19.0B (from $17.0B) and adjusted EPS was increased to $10.15 (from $8.75), representing over $6.5B in revenue growth for the year. Additionally, its first CPO program was won with a hyperscaler, indicating the importance of CLS proprietary tech and cutting edge solutions (1.6T, optics). We increased our target price to CAD565 from CAD504. This is derived from our unchanged earnings multiple of 30x and unchanged EBITDA multiple of 24x our 2027 projections. We now expect revenue growth of +50% in 2026 and ~35% in 2027, with incremental operating leverage. We increase our 2026 EPS to $10.20 (from $9.18) and 2027's to $13.92 (from $11.98).

$CLS

Research104d ago

Research Alert: CFRA Maintains Buy Opinion On Shares Of American Tower 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 of $210 on an EV/EBITDA multiple of 18.0x our 2026 estimate, a discount to its three-year average of 20.2x. We increase our 2026 adjusted FFO estimate by $0.17 to $11.08 and increase 2027 by $0.11 to $11.62. AMT's outperformance in Q1 was due to solid underlying growth, favorable foreign exchange rates, and straight-line revenue adjustments. The European business has continued to outperform its acquisition assumptions, with plans for over 700 new sites this year and management noting the strong operational performance is winning new build-to-suit contracts from carriers. We still see a long runway for domestic growth, with mobile data traffic expected to double in five years due to the proliferation of AI applications and future network densification required for 6G. CoreSite is seeing accelerating demand for interconnected infrastructure to support AI inferencing workloads, with management believing this is a durable, long-term trend.

$AMT

Research104d ago

Research Alert: CFRA Maintains Hold Opinion On Shares Of General Motors Company

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 by $5 to $85, based on a 2027 P/E of 6.0x, a slight premium to GM's five-year mean forward P/E of 5.9x. We increase our adjusted EPS estimates to $13.35 from $12.15 for 2026 and to $14.25 from $13.90 for 2027. Following GM's better-than-expected Q1 earnings and 2026 guidance, we maintain a Hold rating on the shares. The company's reported loss in market share in Q1 confirmed one of our primary concerns with the story, as GM's Q1 new vehicle market share slipped in both the U.S. (-70 bps to 16.5%) and China (-70 bps to 6.9%). The stock is coming off a stellar run in 2025 in which it was the best-performing auto manufacturer equity (+54% vs. +16% for the S&P 500), and we lowered our rating on the shares to Hold in December. Over the last few years, GM's execution and market share gains have been impressive, but we think the company faces a tougher road ahead due to its lack of hybrid offerings and see it continuing to lose market share in the coming quarters.

$GM

Research104d ago

Research Alert: CFRA Maintains Buy Opinion On Shares Of Cadence Design Systems, Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We increase our price target by $3 to $390, 41x our 2027 EPS estimate, just above CDNS's three-year average (~39x) as agentic AI upside outweighs concerns over rising competition and export controls. We lower our 2026 EPS view by $0.29 to $7.95 but increase our 2027 view by $0.08 to $9.51. Following the Hexagon D&E acquisition, CDNS looks satisfied with its systems design portfolio, allowing it to focus more on product development to build its lead in agentic tooling, where its Super Agent offerings now cover a broad set of use cases. We expect rising traction for agentic EDA to structurally improve growth for the Core EDA segment (which encouragingly posted +18% in Q1 following +8% in Q4), while also supporting continued strength in IP (+22%), with an improving contribution over the next several quarters. Upfront sales remain elevated (21% of trailing 12-month sales, +300 bps Y/Y), but visibility is supported by an $8.0B backlog (+25% Y/Y) that keeps setting new records, helping ease volatility concerns.

$CDNS

Research104d ago

Update: BofA Securities Upgrades TFI International to Buy From Neutral, Lifts Price Target to $161 From $122

(Updated to include BofA's commentary)BofA Securities upgraded TFI International (TFII) to buy from neutral following the company's reported Q1 earnings beat, led by Truckload and Logistics.There is favorable exposure to supply side and industrial demand catalysts, progress on productivity/service initiatives, and an attractive valuation for the company, analyst Ken Hoexter wrote in a Tuesday note.TFI International has an average rating of overweight and mean price target of $145.49, 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://finwires.com/en/contact)Price: $146.68, Change: $+8.35, Percent Change: +6.03%

$TFII

Research104d ago

Research Alert: CFRA Lowers Rating To Sell From Hold On Shares Of Avolonbay Communities, 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 by $11 to $169, on a narrower risk premium and a forward P/FFO of 14.8x our core FFO estimate, a discount to the multi-family REIT average of 15.4x. Our more conservative multiple reflects that both rental revenue and FFO are growing moderately. We cut our 2026 FFO view by $0.15 to $11.25 and 2027's by $0.05 to $11.70, as guidance has come down significantly, on our respective projected revenue of $3.1B and $3.2B. The trust is guiding for Q2 2026 FFO of $2.77/share, on same-store residential revenue change of +0.2% and residential operating expense change of +0.4%. This equates to a disappointing cash NOI of -0.7% to +1.3%, below our prior 2026 forecast. AVB is expecting key markets in the northeast to see higher operating costs. In 2026, management sees 8,673 development homes delivered from 9,018 apartment homes. Capital used for investment activities is targeted for 2,394 homes, supported by $575M unsecured credit facility. AVB shares currently trade at a dividend yield of 4.1%.

$AVB

Research104d ago

RBC Confirms Outperform Rating and Target of US$400 on Celestica Following Q1 Results

RBC Capital Markets maintained its outperform rating and US$400 price target on the shares of Celestica (CLS.TO, CLS) after the company reported its first-quarter financial results on Monday.The bank believes Celestica delivered "another solid beat and raise.""Even though the magnitude of the Q1 beat was smaller than Celestica's TTM average, the increase in FY26 guidance is more than double the increase last quarter," the bank noted."Additionally, Celestica's comments imply FY27 revenue above consensus, said analyst Paul Treiber. "The shares are down ~8% after-hours, which may reflect high investor expectations for the quarter, given the 51% rally in the stock over the last month."(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://finwires.com/en/contact)Price: $493.23, Change: $-83.52, Percent Change: -14.48%

$CLS$CLS.TO

Research104d ago

Research Alert: Tfii Upgraded To Hold On Freight Environment Momentum Despite Ltl Weakness: Tp Cad222

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We upgrade TFI to Hold from Sell and increase our target price to CAD222 from CAD125. This is based on an EV/EBITDA multiple of 9.5x (from 7.0x) our 2027 EBITDA figure. While our conviction on the LTL business floundering continued to play out in Q1, the sentiment on the freight environment has turned overwhelmingly positive, outpacing the LTL story. Energy prices remain elevated, restricting supply and raising rates without yet degrading demand. Management guided to a Q2 EPS figure of $1.50 to $1.60, which suggests Y/Y growth in the double digits. We still view TFI as being operationally weaker than peers; however, a rising tide is significantly lifting all boats. We increased our 2026 EPS estimate to USD4.63 (up by USD0.57) and our 2027 EPS estimate to USD5.62 (up by USD0.64). We now expect mid-single-digit growth in revenue for FY 26 and low single-digit top-line growth in 2027.

$TFII

Research104d ago

Research Alert: Pentair: Q1 Results Top Expectations, Eps Outlook Lifted

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:PNR's Q1 EPS of $1.22 beat consensus by $0.05, rising 10% Y/Y despite modest 1% organic sales growth. Operating margin expanded 100 bps to 25% while gross margin improved 190 bps to 41.8%, reflecting effective cost management and pricing realization. We view PNR as executing well on profitability initiatives and strategic pricing actions amid challenging residential markets. Management's 26% operating margin target appears within reach given continued margin expansion momentum. Flow segment led results with income up 22% and margin expanding 210 bps to 23.7%, benefiting from strong commercial and industrial demand. Capital deployment accelerated with $200M in share repurchases (vs. $50M in the prior year), signaling management's confidence in intrinsic value. We see PNR's 1.7x leverage ratio providing flexibility for additional buybacks and accretive M&A opportunities. Looking ahead, we expect Y/Y sales expansion to pick up in 2H 2026 as easier comps emerge.

$PNR

Research104d ago

Research Alert: CFRA Maintains Hold Opinion On Shares Of The Coca-cola Company

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 by $3 to $85, based on a 2027 P/E of 24.3x, a slight premium to KO's five-year average forward P/E multiple. We raise our adjusted EPS estimates by $0.03 to $3.28 for '26 and by $0.05 to $3.50 for '27. Following KO's Q1 earnings beat and guidance raise, we are raising our estimates and price target but maintaining Hold on the shares. While we were impressed with KO's Q1 earnings release (particularly its volume growth), we continue to view the stock's risk/reward potential as balanced and its valuation as fair. While we remain bullish on the growth prospects of KO's fairlife milk brand and recognize expected earnings benefits from the weaker U.S. dollar, we believe the stock's recent performance is reflecting these positives. Still, KO boasts one of the market's strongest earnings track records (its last quarterly earnings miss was in Q1 2017), and we acknowledge the company's long history of returning cash to shareholders, noting its S&P Dividend Aristocrat Index status.

$KO

Research104d ago

Research Alert: Franklin Resources: Mar.-q Results Top Expectations On Improved Fund Flows

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:BEN reported Mar.-Q adjusted EPS of $0.71 vs. $0.47 a year ago, beating the consensus estimate of $0.55 and our forecast of $0.56. Operating revenues rose 9% Y/Y, exceeding our 5%-8% growth forecast, with investment management fees up 9%, while operating margins improved to 14.1% from 6.9% on contained expense growth. We are encouraged by the latest quarterly results and view BEN's diversified AUM mix as a positive development. Western Asset Management's legal issues may still be a concern, with former co-CIO Ken Leech's fraud trial set for June 2026. AUM advanced 9% to $1.68T, reflecting improved fund flows with $16.9B of net long-term inflows vs. $26.2B outflows a year ago, though FY 25 (Sep.) outflows totaled $97.4B. BEN's AUM comprises 40% equity, 26% fixed income, and 17% alternatives, providing greater diversification than some peers. We believe the Western Asset misconduct has significantly damaged the brand.

$BEN

Research104d ago

Research Alert: CFRA Reiterates Hold Opinion On Shares Of S&p Global Inc.

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 $35 to $500, on a forward P/E of 22.7x our 2027 earnings estimate, a premium to the peer average of 20.8x given greater earnings stability. We increase our 2026 EPS estimate by $0.19 to $19.70 and raise 2027's by $0.06 to $22.05. We view Q1 results as a modest net positive. On the upside, SPGI's core Ratings division accelerated its revenue growth, and the company benefited from AI-fueled infrastructure spending as investment-grade issuance increased due to hyperscaler investments in AI data centers. However, SPGI maintained unchanged 2026 revenue and EPS guidance despite the strong Q1 performance, which was disappointing. Additionally, AI disruption concerns continue to weigh on the stock's valuation multiple. On a positive note, the company's portfolio simplification is progressing as SPGI announced the sale of its geoscience and petroleum engineering software assets within the Energy division, while the Mobility divestiture remains on track for mid-2026.

$SPGI

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