Top Research Reports for Novo Nordisk, Tesla & Airbnb
Tuesday, March 12, 2024
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 Novo Nordisk A/S (NVO), Tesla, Inc. (TSLA) and Airbnb, Inc. (ABNB). 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 >>>
Shares of Novo Nordisk have outperformed the Zacks Large Cap Pharmaceuticals industry over the past year (+88.4% vs. +36.8%). The company has one of the broadest diabetes portfolios in the industry. Ozempic and Rybelsus in the diabetes market and obesity drug Wegovy have been performing well fueled by increasing demand.
Label expansions of these drugs in cardiovascular and other indications will likely boost sales. Novo Nordisk has been tackling the supply constraints of Wegovy by increasing its manufacturing capabilities. Wegovy is now indicated in the United States to also reduce heart risks, which is a huge boost. Studies on other pipeline candidates are also progressing well.
Acquisitions to widen its portfolio are also encouraging. However, intense rivalry in the obesity sector threatens Novo Nordisk’s market share. Patent expiry and pricing pressure across the diabetes market also remain a woe.
(You can read the full research report on Novo Nordisk here >>>)
Tesla’s shares have outperformed the Zacks Automotive - Domestic industry over the past year (+1.9% vs. -6.8%). The company also cautioned that its vehicle volume growth rate for 2024 is expected to be lower than 2023.
That said, production ramp-up at Gigafactory 4 and 5 and new models, including Cybertruck, are set to support long-term delivery growth. Importantly, the prospects of Tesla’s Energy Storage business are encouraging. The company anticipates the growth rate of deployments and revenues in the Energy Storage business to surpass that of the Automotive business in 2024.
Robust liquidity and the solid potential of its charging business are other positives. While shrinking margins remain a near-term concern, the Zacks analyst expects Tesla to deliver outsized returns in the long run.
(You can read the full research report on Tesla here >>>)
Shares of Airbnb have outperformed the Zacks Internet - Content industry over the past year (+40.6% vs. +35.2%). The company is benefiting from continuous improvements in Nights and Experiences Booked, enabling it to witness a positive trend in its Gross Booking Value. Growing gross nights booked, owing to solid momentum across high-density urban areas and first-time bookers is a tailwind.
Further, increasing guest demand and continuous recovery in cross-border travel are major positives. Strong momentum in active listings, owing to supply growth across all regions, particularly in Asia Pacific and Latin America, is benefiting the top line. Moreover, growing awareness around hosting and new features introduced for hosts is a plus.
However, greater volatility in travel demand due to macroeconomic uncertainties, rising competition and impacts of geopolitical conflicts, remain concerns.
(You can read the full research report on Airbnb here >>>)
Other noteworthy reports we are featuring today include Schlumberger Ltd. (SLB), ONEOK, Inc. (OKE) and CDW Corp. (CDW).
Mark Vickery
Senior Editor
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
GLP-1 Drugs Boost Novo Nordisk (NVO), Market Rivalry a Woe
Tesla (TSLA) Set to Ride on its Energy Storage Business
Airbnb (ABNB) Banks on Strong Nights & Experiences Bookings
Featured Reports
SLB to Gain From International and Offshore Markets
Per the Zacks analyst, SLB's prospective growth will be driven by increasing demand in the international markets. However, the company's high long-term debt is concerning.
Investments & Higher Fee-Based Earnings Aid ONEOK (OKE)
Per the Zacks analyst, ONEOK is set to benefit from fee-based earnings and midstream assets located in productive regions. Investments made to expand pipelines will drive its performance.
CDW Corporation (CDW) Benefits From Rising Customer Demand
Per the Zacks analyst, CDW Corporation is gaining from rising software and cloud spending owing to solid customer demand. High debt load and stiff competition remain concerns.
Inorganic Growth Efforts Aid Raymond James (RJF), Costs Ail
Per the Zacks analyst, while Raymond James' efforts to expand through acquisitions and its global diversification efforts are expected to result in higher costs, these will likely drive the top line.
Solid Retirement Business Aids Principal Financial (PFG)
Per the Zacks analyst, Principal is set to grow on the strength of retirement and long-term savings business in Latin America and Asia as well as group benefits and protection in the United States.
Omnicom (OMC) Gains From Diversification Amid Low Liquidity
Per the Zacks analyst, Omnicom has a diversified business, with service offerings across areas of functional expertise and geographical regions. Low liquidity is concerning.
Musculoskeletal Arm Aid Globus Medical (GMED), Forex Woe Ail
The Zacks analyst is impressed with Globus Medical's musculoskeletal revenue growth in Q4 led by company's U.S. and international spine businesses. Yet, foreign exchange woes remain a concern.
New Upgrades
Clorox (CLX) Benefits From Pricing and Cost-saving Efforts
Per the Zacks analyst, Clorox has been gaining from pricing and cost-saving initiatives. The company CLX has been on track with its streamlined operating model, which aims at improving efficiency.
Increased Demand & Expansion Initiatives to Aid Hyatt (H)
Per the Zacks analyst, Hyatt is likely to benefit from strong leisure demand, strength in group bookings and loyalty program. Also, emphasis on new hotel openings and acquisition efforts bode well.
Central Garden's (CENT) Products & Buyout Strategy Fuel Sales
Per the Zacks analyst, Central Garden & Pet Company has been making efforts to reinforce position in the pet supplies, and lawn and garden supplies space through new products and strategic buyouts.
New Downgrades
Heavy Investment in Tech & Rising Debt to Ail Magna (MGA)
Per the Zacks analyst, Magna's heavy investment in the development of technologically advanced products is likely to strain its near-term cash flows. Rising debt levels are concerning.
Lower IT Spending to Hurt Avnet's (AVT) Growth Prospects
Per the Zacks Analyst, Avnet's growth prospects might be hurt by soft IT spending as organizations are pushing back their large IT investment plans amid the macroeconomic headwinds.
Weak Cutting & Marking Hurts IPG Photonics' (IPGP) Prospects
Per the Zacks analyst, IPG Photonics is suffering from weakness in cutting and marking applications, particularly in China, amid challenging macroeconomic conditions and stiff competition.
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Schlumberger Limited (SLB) : Free Stock Analysis Report
Novo Nordisk A/S (NVO) : Free Stock Analysis Report
ONEOK, Inc. (OKE) : Free Stock Analysis Report
Tesla, Inc. (TSLA) : Free Stock Analysis Report
CDW Corporation (CDW) : Free Stock Analysis Report
Airbnb, Inc. (ABNB) : Free Stock Analysis Report
