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Research Alert: CFRA Maintains Strong Buy Opinion On Shares Of East West Bancorp, Inc.

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 price by $10 to $165, 14.5x our 2027 EPS estimate, a wider risk premium than the peer average of 10.0x given demographic advantages and expected market share gains. We raise our 2026 EPS view by $0.32 to $10.73 and increase 2027's by $0.26 to $11.36. Our revenue estimates are $3.2 billion and $3.4 billion, respectively. EWBC shares justifiably reached a record high today, driven by the bank's continued outperformance in loan and deposit growth versus industry peers. Management's guidance was especially positive and notably was unaffected by the Iran conflict. In fact, EWBC raised its 2026 net interest income outlook by 100 bps to 6%-8% growth, while simultaneously lowering its expected net charge-offs by 5 bps to 15-25 bps. Still, despite strong credit quality and a track record of EPS growth exceeding peers, EWBC maintains a defensive position for a potential economic downturn, supported by robust capital levels and a strengthened loan loss reserve.

$EWBC

Research155d ago

Research Alert: CFRA Maintains Buy Rating On Shares Of Manhattan Associates 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 price to $166 from $192, on a forward P/E of 31x our 2026 EPS projection of $5.34, below its three year average. We increase our 2026 EPS estimate to $5.34 from $5.20 and our 2027 EPS forecast to $5.89 from $5.87. MANH reported strong Q1 2026 results, with revenue of $282M, up 7.4% Y/Y (vs. 3.2% in Q1 2025), beating consensus by $8.5M, due to cloud subscription growth of 24% and services revenue growth of 4%. We are encouraged by the acceleration in cloud revenues in Q1, as well as solid RPO growth of 24%, reflecting improved execution and demand, despite investor concerns of the impact of macroeconomic uncertainty. Over 55% of new cloud bookings came from net new logos, demonstrating continued market expansion. The company noted that 23% of on-premise customers have converted or started conversion to cloud, with AI as a driver. Taken together, the strength in Q1 results, raised guidance, and AI monetization on the horizon keep us positive on MANH.

$MANH

Research155d ago

Research Alert: CFRA Maintains Hold Opinion On Shares Of Cava Group Inc.

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 $14 to $105, based on an equal-weighted blended valuation (55x 2027 EV/EBITDA; 6x 2027 EV/sales). We raise our 2026 EPS estimate to $0.80 from $0.79 and lower 2027's to $1.19 from $1.27, reflecting more limited EBITDA margin expansion despite ongoing comparable sales momentum. We maintain our Hold opinion as shares already reflect CAVA's substantial growth opportunity. The company's leadership in Mediterranean cuisine and significant U.S. whitespace support high revenue growth expectations, which we view as warranted given strong unit economics. However, consensus margin expansion assumptions appear optimistic given persistent headwinds from tariffs and elevated food costs, particularly for olive oil and proteins. While CAVA has demonstrated pricing power, we expect restaurant-level margin improvement will be more gradual than anticipated. We believe shares price in flawless execution on both unit growth and margin expansion, leaving limited room for error.

$CAVA

Research155d ago

Research Alert: CFRA Keeps Hold Opinion On Shares Of Sonoco Products Co.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We decrease our 12-month target by $4 to $54 on an EV/EBITDA of 7.9x our 2026 EBITDA estimate, a discount to SON's three-year average of 8.0x. We decrease our 2026 EPS view by $0.07 to $5.90 and decrease 2027 by $0.08 to $6.50. We see an increased risk of guidance being lowered in Q2 following the near-miss this quarter and have lowered our EPS forecast accordingly. SON made a $20M investment in automated wood reel production to meet increased demand from wire and cable industry related to data center and power infrastructure build-outs. We believe this will have a strong ROI given the long-term demand growth we see in both these spaces. SON's new paper plant opened in Nong Yai, Thailand, serving the growing Asian snack market and increasing volumes by 6% in the region. We believe this volume growth should increase throughout 2026 as the region remains a bright spot in terms of volume this year.

$SON

Research155d ago

Research Alert: CFRA Keeps Hold Opinion On Shares Of Sonoco Products Co.

$SON

Research155d ago

Research Alert: Rogers Communications' Profit Jumps, Lowers Capital Expenditures

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Rogers delivered robust Q1 results, with total service revenue surging 10% to $4,912M, significantly outpacing 3%-5% guidance, though adjusted EBITDA margins compressed 220 bps to 43.1% due to MLSE consolidation. Adjusted EBITDA grew 5% to $2,364M, while Wireless maintained flat service revenue of $2,031M and expanded margins to 65.1% despite competitive pressures that reduced mobile ARPU by $1.34 to $55.60. The Media segment transformation validates Rogers' strategic vision, with revenue increasing 82% to $988M as MLSE operations drove exceptional performance and adjusted EBITDA improved $63M to break even. The company updated 2026 guidance, reducing capex to $2.5B-$2.7B from $3.3B-$3.5B and increasing FCF guidance to $4.1B-$4.3B. Rogers strengthened its financial position, with FCF growing 32% to $776M and debt leverage improving to 3.8x from 4.0x, positioning the company well for accelerated debt reduction and continued shareholder value creation in a challenging regulatory environment.

$RCI.B

Research155d ago

Research Alert: Te Connectivity Reports Strong Growth, Supported By Ai Demand

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:TE Connectivity delivered record adjusted EPS of $2.73 (+24% Y/Y) on sales of $4.74B (+15% reported, +7% organic), exceeding guidance. Industrial Solutions drove performance with $2.32B sales (+27% reported, +17% organic) and 260 bps margin expansion to 21.8%, while Transportation showed resilience with positive reported growth despite automotive headwinds. We view TEL as well positioned in AI infrastructure, though we note expected moderation in Digital Data Networks growth to 46% organic from prior 70%+ rates. Management guided Q3 sales to ~$5.0B (+10% reported, +9% organic) and adjusted EPS to ~$2.83 (+17% Y/Y). Record orders of $5.3B (+25% Y/Y, 1.12x book-to-bill) provide strong forward visibility. We believe operational leverage is evident with adjusted operating margins expanding 130 bps to 21.7% and strong free cash flow of $1.3B enabling $1.2B in shareholder returns. The 10% dividend increase reflects management's confidence in sustainable cash generation.

$TEL

Research155d ago

Research Alert: CFRA Maintains Buy Opinion On Shares Of Capital One Financial Corporation

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:After digesting Q1 earnings, we reduce our 12-month target price by $25 to $265, applying a forward P/E of 10.8x our 2027 EPS estimate, above the 10-year historical average of 8.7x to reflect COF's push into wealthier cohorts and dynamic operating model following the acquisition of Discover Financial. We reduce our 2026 adjusted EPS view to $19.87 from $21.22 and cut our 2027 EPS estimate to $24.46 from $25.68. We remain optimistic about the stock despite heightened geopolitical tensions. Strong employment and real wage growth (wages rising faster than inflation) are supporting healthy credit quality across both COF's credit card and auto loan portfolios. Management's commentary is also encouraging, suggesting that the net interest margin compression seen in Q1 is temporary. Looking ahead, the Discover acquisition should continue delivering structural improvements such as higher net interest margins, better operational efficiency, and stable credit quality. Shares yield 1.6%.

$COF

Research155d ago

Research Alert: Otis: Mixed Q1 Results Buoyed By Services

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:OTIS posted Q1 operating EPS of $0.89, missing consensus by $0.01, with net sales rising 6% to $3.566B (+1% organic). Service sales grew 11% to $2.4B (+5% organic), led by repair services expanding 16%, while New Equipment declined 1% to $1.1B (-5% organic), pressured by 20%+ China weakness. We believe the market shift toward optimizing current assets over new equipment installation supports OTIS's service-driven model, with modernization backlog expanding 32% and providing future revenue visibility. Management indicated efforts to reverse margin compression, though recovery may take time, in our view. Service margins contracted 160 bps to 23% due to higher labor costs and growth investments, while New Equipment margins compressed 240 bps to 3.3% from volume declines and pricing deflation. We expect the Service segment's resilient fundamentals and growing backlog to support future performance despite near-term margin headwinds.

$OTIS

Research155d ago

Research Alert: CFRA Keeps Hold Opinion On Shares Of Halliburton Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Our 12-month target price of $42, raised $4, reflects a combination of relative valuation and DCF models. On a relative basis, we apply a 9.1x multiple of enterprise value to projected '27 EBITDA, above HAL's historical forward average. We think a premium multiple is reasonable in light of the war in the Middle East, given HAL's cornerstone positioning in North America. This approach yields a value of $39 per share. Meanwhile, our DCF model, using medium-term free cash flow growth of 5% and terminal growth of 2%, discounted at a WACC of 7.1%, yields intrinsic value of $45 per share. We lift our '26 EPS estimate by $0.09 to $2.37, and '27's by $0.13 to $2.65. HAL guided to a $0.07-$0.09 EPS headwind in '26 due to the situation in the Middle East, but we think Latin America will be strong and serve as a partial offset. Management sees early signs of a recovery in North America, although we think it is debatable whether this will be a slow or fast ramp-up.

$HAL

Research155d ago

Research Alert: CFRA Maintains Hold Opinion On Shares Of Airbnb, Inc.

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 $16 to $149, 29x our 2026 EPS estimate (from 27x), below shares' 31x three-year average, reflecting a lower structural growth profile. We raise our 2026 EPS to $5.13 from $4.92 and 2027's to $5.63 from $5.39, primarily reflecting encouraging macro travel spending trends, particularly among high-end consumers. We maintain our Hold opinion as consensus estimates already reflect an optimistic scenario with low double-digit revenue growth expectations. While ABNB's exposure to affluent travelers supports continued strength in high average daily rate properties, this is offset by structural headwinds in the U.S. segment, which is growing in the low single digits. We view this deceleration as market maturation rather than cyclical weakness. The contrast between international momentum and U.S. stagnation supports our below-average multiple. At current levels, we see limited upside unless ABNB demonstrates meaningful U.S. reacceleration or international growth significantly exceeds expectations.

$ABNB

Research155d ago

Research Alert: CFRA Maintains Hold Opinion On Shares Of Philip Morris International 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 by $25 to $175, based on a 2027 P/E of 18.9x, a justified premium to PM's 10-year average forward P/E of 17.9x due to its smoke-free growth prospects. We raise our adjusted EPS estimates by $0.05 to $8.50 for '26 and by $0.05 to $9.25 for '27. Following PM's earnings release, we are lowering our price target and maintaining a Hold on the shares. PM's Q1 results were solid, continuing its streak of better-than-expected earnings (nine straight quarters without a miss). While PM's smoke-free pivot has been extremely successful, we have concerns regarding slowing growth going forward and consider the shares fairly valued after the stock's outperformance over the past two years. PM has been one of the best-performing names in the Consumer Staples sector recently, with the stock rising 34% in 2024, followed by a 38% gain in 2025 (vs. increases of 23% and 16%, respectively, for the S&P 500).

$PM

Research155d ago

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

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Ahead of ETSY's Q1 results on April 29, we raise our 12-month target to $74 from $62, based on a 14x EV/EBITDA multiple applied to our 2026 EBITDA estimate of $770M (+5% Y/Y). Shares have outperformed (+14% YTD; +37% since March 30 vs. +11% for the S&P 500), led by improving macro data, including benign inflation, a firm labor market, and strong retail sales, supported by higher-income spending and tax refunds (tax refunds were up about 11% Y/Y on average). For Q1, we expect some top-line noise due to portfolio changes, including the Reverb divestiture and the pending sale of Depop to eBay. Offsetting this, we expect margin expansion, as Depop has historically been a lower-margin business. We forecast Q1 adj-EBITDA of $170M, down 1% Y/Y, with adj-EBITDA margins expanding 200 bps Y/Y to 28.3%.

$ETSY

Research155d ago

Research Alert: CFRA Keeps Buy Rating On Shares Of Boston Scientific Corporation

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:After the solid Q1 results announcement this morning amid a challenging operating environment, we retain our target at $100, based on 24.8x our 2027 EPS estimate, a discount to its five-year historical forward P/E average of 27.5x. We lower our 2026 EPS view to $3.40 from $3.49 as we adjust our top- and bottom-line forecasts to take into account a softer outlook in the Electrophysiology, Watchman, and Urology businesses. We maintain our 2027 EPS estimate at $4.04. We continue to view the large $14.5 billion pending acquisition of Penumbra (a leading thrombectomy firm focused on innovative technologies to treat challenging medical conditions), which is expected to close in the second half of 2026, as strategically compelling for BSX and potentially key to accelerating its growth. Despite near-term challenges (supply chain disruptions, increased competition), we remain confident in the company's long-term growth prospects, supported by a strong product pipeline and strategic investments.

$BSX

Research155d ago

Research Alert: CFRA Maintains Strong Buy Rating On Shares Of Interactive Brokers Group, Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our target by $6 to $94, applying a forward P/E of 32.3x our 2027 EPS estimate vs. the peer average of 28.3x. We keep our 2026 EPS view at $2.49 and increase 2027's by $0.20 to $2.91. IBKR delivered a strong Q1, achieving record net revenues and commission revenues despite a challenging market environment where major indices declined. The company continued its impressive client acquisition momentum, setting new records for total accounts (+31% Y/Y), client equity (+38%), and client cash balances. Trading activity remained robust, with significant growth in DARTs (+24%) and volumes across all major product classes. We see several emerging catalysts, including the elimination of the Pattern Day Trader rule to boost retail activity, a partnership with Coinbase Derivatives to capture crypto demand, and the long-term opportunity in its burgeoning prediction markets. We like IBKR's deep integration of AI across the firm as a key strategic priority to enhance client tools and improve operational efficiency.

$IBKR

Research155d ago

Research Alert: Best Buy Announces Ceo Succession Plans

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:BBY shares are down today on company news of CEO succession. Corie Barry, current and long-standing CEO, will step down in October as CEO and member of the Board. Her replacement is Jason Bonfig, currently Chief Customer, Product, and Fulfillment Officer. We think Bonfig has experience across all the key areas of the business, including merchandising, e-commerce, marketing, supply chain, and other areas. The share price has not recovered since its 52-week high of $85 in October 2025, which we think is related to the changing competitive landscape and AI memory chip shortages impacting the consumer electronics offered. Major PC vendors have confirmed 15%-20% price increases, while smartphone prices are expected to rise high single digits. BBY has limited mitigation levers, given it can't source from alternative suppliers, could not easily pass through costs without triggering demand destruction, and absorbing costs hurts margins. We will get the latest update on market trends when BBY releases earnings in May.

$BBY

Research155d ago

Research Alert: CFRA Keeps Sell View On Shares Of Nvr, Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:NVR delivered Q1 revenue of $1.881B with homebuilding revenues of $1.835B falling 22% Y/Y on volume declines, missing consensus expectations of $2.02B. EPS of $67.76 fell short of consensus at $79.20 despite gross margins declining only 230 bps Y/Y, outperforming peers facing similar volume pressures. We attribute NVR's relative margin resilience to strong order ASP performance in recent quarters (Q3/Q4) and steady strategy, though SGA margins jumped 150 bps, reflecting community openings amid a challenging March period. NVR grew its backlog from Q4 as closings remained below new orders, though conversion decelerated sequentially and Y/Y. TTM order value increased with 7% Y/Y volume growth offset by 2% ASP contraction, supported by 8% Y/Y community count expansion that likely helped maintain market share. We remain cautious as the community count lift could wane in 2H 2026, potentially challenging market share and/or margin performance going forward.

$NVR

Research155d ago

Research Alert: CFRA Maintains Buy Recommendation On Shares Of Northrop Grumman Corporation

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We decrease our 12-month target price by $17 to $736, as we assume NOC will trade at P/E multiple of 23.0x our 2027 EPS estimate, a premium to NOC's three-year average forward P/E of 19.6x but close to the peers' average forward P/E of 23.8x. We trim our 2026 EPS estimate by $1.04 to $28.61 and also cut our 2027 EPS forecast by $0.76 to $31.99. NOC's fundamentals remain robust, anchored by a record $96 billion backlog providing over two years of revenue visibility. The company reaffirmed 2026 guidance for mid-single-digit organic sales growth and segment operating margins of low- to mid-11%. We see strong multi-year momentum driven by four key growth engines: B-21 (approaching 10% of revenue with production accelerating 25%), Sentinel ICBM (6%-7%, growing toward 10%), missile defense (10%), and weapons/munitions (10%). With capacity investments enabling NOC to scale production and the company achieving improved ROIC on major programs, we remain confident in sustainable growth extending into 2027 and beyond.

$NOC

Research155d ago

Research Alert: CFRA Upgrades View On Rtx 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:Our 12-month target price is $216, or 26.5x our 2027 EPS estimate, vs. RTX's three-year average forward P/E of 21.3x and peers' average forward P/E of 26.2x. We raise our 2026 EPS estimate by $0.03 to $7.18 and reiterate our 2027 EPS forecast at $8.15. RTX's upgrade reflects strengthening fundamentals across its portfolio. The defense business demonstrates exceptional momentum, with five landmark framework agreements for critical munitions providing unprecedented long-term visibility and demand signals. The record $271 billion backlog (up 25% Y/Y) and 1.14 book-to-bill ratio underscore robust demand across both commercial and defense end markets. Despite geopolitical uncertainties, commercial aerospace fundamentals remain durable, supported by 14% aftermarket growth and the GTF engine's 8,000-unit backlog. Now that the worst of the powder metal crisis is in the rearview mirror, investor focus should be shifting to the powerful, long-term economics of the massive installed base of GTF and V2500 engines.

$RTX

Research155d ago

Research Alert: CFRA Keeps Buy Opinion On Shares Of Cme Group 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 unchanged at $380 on a forward P/E of 29.1x our 2027 earnings estimate, a premium to the three-year historical average of 23.0x, given strong margins and fewer concerns surrounding competitive threats. We raise our 2026 EPS estimate to $12.48 from $11.79 and increase 2027's by $0.54 to $13.06. Our revenue projections are $7.1 billion and $7.5 billion, respectively. CME delivered record Q1 revenue, average daily volume, and earnings, demonstrating strong operational performance. The company is successfully navigating competitive pressures, and we anticipate margin expansion in 2026. AI threats are also not showing up as CME's market data and information services segment (13% of revenue) has posted accelerating growth for six consecutive quarters. Despite these strengths, including best-in-class margins and minimal AI risk, the stock trades below both peer multiples and CME's historical average on a forward P/E basis, creating an attractive buying opportunity.

$CME

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