12:30 PM EST, 11/04/2025 (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 raise our 12-month target by $2 to $50, based on a 2026 P/E of 9.0x, a justified discount to TAP's five-year average forward P/E of 11.7x. We lower our adjusted EPS views to $5.40 from $5.45 for 2025, to $5.55 from $5.80 for 2026, and introduce 2027's at $5.90. TAP posted Q3 adjusted EPS of $1.67 vs $1.80 (-7%), short of consensus' $1.70 due to a weaker-than-expected top line, as net sales fell 2.3% to $2.97B ($35M below consensus) on a 6.0% drop in financial volume, partially offset by positive impacts of 2.7% from price/sales mix and 1.0% from currency. Gross margin was flat at 39.5% (100 bps above consensus). TAP has had a rough year so far in 2025, with shares currently trading just above a four-year low, so one could argue the headwinds it faces are discounted at current levels, representing an intriguing value opportunity (particularly its current 4.3% dividend yield). While shares have been hit hard, we struggle to identify a catalyst and expect the demand environment to remain challenging.