Morning Summary - May 26 2026

研报英文原文证据摘录

Morning Summary - May 26 2026

MORNING SUMMARY

May 26, 2026

PRICE TARGET CHANGES

SOLV ENERGY, INC. Buy

MWH: Updating Model, Raising PT To $50 From $37

Joseph Osha, CFA MWH $38.44 Price$50.00Target415 852 6468, joseph.osha@guggenheimpartners.com

CLICK HERE TO ACCESS THIS REPORT Current Q Next Q Current FY Next FY

Published on May 26, 2026 $0.7 $1.2 $3.8 $4.6

Market Cap (M) Metric Mult Curr Yr. Mult Next Yr.

$7,783 Rev($)B - -

Key Message: We are updating our financial model for MWH, and additionally revising our valuation analysis. The result of our work supports a price target

of $50, up from $37 previously. We reiterate our Buy recommendation on that basis.

RESTAURANT BRANDS INTERNATIONAL INC. Buy

QSR: The Sixth Inning of a Five Year Journey; Reiterate Buy Rating

Gregory Francfort, CFA QSR $75.38 Price$85.00Target212 518 9182, gregory.francfort@guggenheimpartners.com

Published on May 25, 2026 $1.03 $1.09 $4.00 $4.30

$34,839 Adj. EPS ($) 18.8x 17.5x

Key Message: We are reiterating our Buy rating on QSR, raising our ‘26/’27 EPS to $4.00/$4.30 from $3.95/$4.22 and increasing our price target to $85 from

$80. We believe that QSR’s recent business performance has benefitted from years of reinvestments, operational blocking and tackling, and a marketing

message that is resonating with guests. We have concerns about 2H26 consumer macro pressures, particularly in Canada and overseas markets. But

Burger King U.S. appears to be firing on all cylinders and if Int’l results can hold in OK amid an oil price shock, we believe RBI’s stock remains attractively

valued at ~17.5x our 2027E EPS.

RELAY THERAPEUTICS, INC. Buy

RLAY (Best Idea) - BUY - Positive KOL Feedback On Vascular

Anomalies Data, And Model Update; PT $26 RLAY $13.53 Price$26.00TargetBrad Canino