---
title: "研究警报：CFRA 将凯悦酒店公司股票的评级从买入下调为持有"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/284918494.md"
description: "CFRA 已将凯悦酒店的股票评级从 “买入” 下调至 “持有”，将 12 个月目标价下调 9 美元至 180 美元。2026 年的每股收益（EPS）预估下调至 2.75 美元，而 2027 年的预估上调至 4.34 美元。尽管第一季度的业绩超出预期，但地缘政治动荡对 2026 年的息税折旧摊销前利润（EBITDA）前景产生了负面影响。目前的股价反映出比三年平均前瞻性倍数高出 10% 的溢价，导致风险/收益评估趋于平衡"
datetime: "2026-05-01T15:45:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/284918494.md)
  - [en](https://longbridge.com/en/news/284918494.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/284918494.md)
---

# 研究警报：CFRA 将凯悦酒店公司股票的评级从买入下调为持有

11:45 AM EDT, 05/01/2026 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lower our 12-month target by $9 to $180 on a 2026 EV/EBITDA multiple of 17x (up from 15x), a premium to its 15x three-year forward average multiple. We lower our 2026 EPS estimate to $2.75 from $3.71 and raise our 2027 estimate to $4.34 from $4.26, while our 2026 adjusted EBITDA estimate of $1.18 billion is near the midpoint of management's guidance. Following Q1 results that beat estimates and included raised full-year RevPAR guidance, we downgrade shares from Buy to Hold. We believe the setup is less favorable with shares now trading at a 10% premium to their three-year average forward multiple. Our multiple reflects a discount to hotel peers given H's lower scale and higher leverage, though this is offset by H's exposure to luxury leisure travel, which is showing momentum with net package RevPAR up 7.4% in Q1 and contributing to outsized RevPAR growth. However, geopolitical disruptions affecting H's Distribution segment have lowered our 2026 EBITDA outlook. At current levels, we see balanced risk/reward.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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- [H.US](https://longbridge.com/zh-CN/quote/H.US.md)

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