BMO Research Today - May 11, 2026

Research evidence excerpt

BMO Research Today - May 11, 2026

ESTIMATES / TARGETS RAISED IN THIS ISSUE

AMN Healthcare Services Macro and Sector Updates

Jeffrey M. Silber, Business Services and Education Analyst - Business Services BMO Global Commodities Research

1Q26 Takeaways: Strong Beat; 2Q26 Guidance OK; Raising Ests./Target BioPharma

OP $22.45 $26.00 $868 ETF

Rating Price Target Mkt Cap. Education

Alternative Asset Managers

• 1Q26 upside was boosted by better-than-expected labor disruption (strike) revenues. Management

Commodities Daily noted a number of businesses returned to y/y growth, including travel nurse volume (excluding

strike), allied, international nurse and search. Research News

• AMN generated an all-time high free cash flow in the quarter, allowing it to. 2Q26 revenue guidance Gaming & Lodging

included consensus at the high-end (lower than expected PLS, though higher than expected NAS),

though margin guidance was above expectations. We raise our estimates and target price. Estimates/Targets Raised

AMN APLE APO BBUC

Brookfield Business CG CLDT CRR.UN CSH.UN

DIR.UN EMA FVR GRT.UN

Devin Dodge, Industrials Analyst - Industrial Products HR INVH KKR KMP.UN

PSTL RHP SBRA SRL

Portfolio Value Remains Underappreciated

Estimates/Targets LoweredOP $30.85 $44.00 $6,386

Rating Price Target Mkt Cap. CAR.UN CMS DII.B DXC

ES FSZ LNF PPL

SRE T WEN

• We believe many of the portfolio companies are performing well, and broader financial performance

appears set to step-up in 2027.

Company Updates - US

• Pro forma liquidity is strong, which provides flexibility to pursue attractive new investment

BAM BNL CVSA DLR opportunities. Meanwhile, capital recycling initiatives continue to progress, which could highlight

FCPT JHG KIM LYFT underappreciated value in the portfolio.

PK PTGX REXR STAG