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Top Research Reports for Nike, Broadcom & Amgen

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·6 min read
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Tuesday, March 16, 2021

The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including NIKE (NKE), Broadcom (AVGO) and Amgen (AMGN). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.

You can see all of today’s research reports here >>>

NIKE shares have been standout perfomers, up +107.1% over the past year, as the company benefited fron a strong digital push that capitalized on the strength of its brands and investments made over the past several years to improve digital consumer experiences.

Moreover, it started the holiday season on a strong note with record online sales during the Black Friday week. Management expects sequential growth during the fiscal third quarter. However, it is witnessing lower revenues at the wholesale business and NIKE-owned stores.

Higher restructuring costs and continued investments in digital capabilities also acted as headwinds. SG&A expenses are envisioned to grow in low-single digit in fiscal 2021.

(You can read the full research report on NIKE here >>>)

Shares of Broadcom have gained +31.5% in the last six months against the Zacks Electronics - Semiconductors industry’s gain of +30.4%. The Zacks analyst believes that robust adoption of Wi-Fi 6 in access gateway, and cable DOCSIS 3.1 products bodes well for the company.

Acceleration in 5G deployment, production ramp up and increase in radio frequency (RF) content favors prospects. Synergies from acquisitions of CA and Symantec’s enterprise security business are anticipated to boost its presence in infrastructure software vertical.

Further, an upbeat guidance for second quarter of fiscal 2021 on strong uptick in broadband revenues is encouraging. However, weak enterprise demand is likely to affect Brocade revenues and server storage business.

(You can read the full research report on Broadcom here >>>)

Amgen shares have gained +4.4% over the past three months against the Zacks Biomedical and Genetics industry’s loss of -1.9%. The Zacks analyst believes that Amgen’s drugs like Prolia, Xgeva, Repatha, Otezla and biosimilars have been driving sales.

However, increasing competition for its legacy products is hurting the same. Amgen is rapidly advancing its innovative pipeline, most notably sotorasib and tezepelumab. Amgen expects several important clinical data readouts from its innovative pipeline in 2021, which could be catalysts for the stock.

Amgen also boasts a strong biosimilars portfolio, which is an important source of revenues. However, pricing and competitive pressure are concerns. Several of Amgen’s marketed drugs face increased pricing headwinds in 2021 and continued COVID-19 headwinds.

(You can read the full research report on Amgen here >>>)

Other noteworthy reports we are featuring today include McDonald's (MCD), BlackRock (BLK) and The Estée Lauder Companies (EL).

Zacks Top 10 Stocks for 2021

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Last year's 2020Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.

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Sheraz Mian

Director of Research

Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>

Today's Must Read

Strength in NIKE's (NKE) Digital Business Aids Top Line

Portfolio Strength & Acquisitions Benefit Broadcom (AVGO)

Amgen's (AMGN) Pipeline Progresses Rapidly

Featured Reports

McDonald's (MCD) Banks on Digitization, Traffic Woes Stay

Per the Zacks analyst, McDonald's is likely to benefit from digital offerings across drive thru, takeaway, delivery, curbside pick-up and dine-in categories.

Acquisitions Support BlackRock (BLK), Higher Costs a Concern

Opportunistic acquisitions and steadily improving assets balance to support BlackRock's profitability.

The Estee Lauder Companies (EL) Gains on Skin Care Category

Per the Zacks analyst, The Estee Lauder Companies is gaining from solid Skin Care sales for a while now.

Altria (MO) Benefits From Robust Pricing, Wine Business Soft

Per the Zacks analyst, solid pricing has been a major upside for Altria, which aided adjusted operating companies income in fourth quarter.

Fiserv (FISV) Gains From Ondot Systems Buyout Amid High Debt

Per the Zacks analyst, the Ondot Systems acquisition strengthens Fiserv's digital capabilities and competitive position.

Intercontinental (ICE) Rides on Buyouts Amid High Costs

Per the Zacks analyst, Intercontinental Exchange is set to grow on a number of buyouts and cost synergies. However, rising expenses weigh on margins.

Technology, Loans Aid ICICI Bank (IBN), Credit Quality a Woe

Per the Zacks analyst, ICICI Bank's efforts to digitize operations, and steady loan and deposit growth will aid profitability.

New Upgrades

Suncor (SU) to Benefit from Strong Liquidity Position

The Zacks analyst likes Suncor's strong financial position. The company has debt maturities of a mere C$1.8 billion during 2021-2022 and sits on C$7.9 billion in total liquidity.

Rising Demand, Vale Fertilizantes Buyout Aid Mosaic (MOS)

The Zacks analyst believes that Mosaic is well placed to gain from increasing global demand for phosphate and potash as well as significant synergies of the Vale Fertilizantes acquisition.

Acquisitions and Expansion Moves Aid Steel Dynamics (STLD)

Per the Zacks analysts, acquisitions will expand the company's product portfolio and shipping capabilities. Expansion actions should also add to its capacity and boost profitability.

New Downgrades

Bayer (BAYRY) is Facing Generic Competition which is a Woe

Per the Zacks analysts, Bayer is facing generic competition for many of its products, including the Yaz franchise.

Lower Testing Revenues, High Costs Irks Exact Sciences (EXAS)

The Zacks analyst is concerned about decline in testing revenues with the wide availability of the COVID-19 vaccine.

High Material Cost & Labor Shortage Hurt KB Home (KBH)

Per the Zacks analyst, material cost inflation, higher wage resulting from labor shortages and a deficit of buildable lands for building new houses are causes of concerns for KB Home.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
NIKE, Inc. (NKE) : Free Stock Analysis Report
BlackRock, Inc. (BLK) : Free Stock Analysis Report
Broadcom Inc. (AVGO) : Free Stock Analysis Report
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