<div id="readability-page-1"><p>10:40 AM EST, 01/22/2026 (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:</p><p>We are lowering our outlook on the Communication Services sector to marketweight from overweight given that the sector is trading at a 17% premium to its five-year average next-12-month (NTM) P/E ratio, versus technology's current 1% discount. The sector's earnings per share (EPS) growth rate is projected to slow to 5.7% in 2026 versus 14% for the S&amp;P 500, before reaccelerating to a 13.5% pace in 2027 compared with the broader market's projected growth rate of 15.3%. The sector is also vulnerable to concentration risk, since the top two companies represent 77% of the sector's market capitalization. We also see the group being vulnerable to capex spending pressures. Finally, the sector has experienced a sharp weakening of its price momentum, according to Lowry Research, CFRA's technical analysis arm. The group now carries a weekly Power Rating of 76 versus a reading of 95 (out of a scale from 1-99) just three weeks ago.</p> <p>MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.</p></div>

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<p>CFRA 已將通信服務行業的前景評級從 “增持” 下調至 “中性”。該行業目前的市盈率比五年平均水平高出 17%，而科技行業則低於 1%。預計該行業的每股收益增長將在 2026 年放緩至 5.7%，而標準普爾 500 指數為 14%，之後在 2027 年反彈至 13.5%。該行業面臨集中風險和資本支出壓力，並且近期價格動能出現下降</p>

研究警報：CFRA 將通信服務的評級從超配下調至標配