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Top Stock Reports for Bristol-Myers Squibb, Honeywell International & Sony

Thursday, January 12, 2023

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 Bristol-Myers Squibb Company (BMY), Honeywell International Inc. (HON) and Sony Group Corporation (SONY). 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 >>>

Bristol-Myers Squibb’s shares have outperformed the Zacks Medical - Biomedical and Genetics industry over the past year (+11.3% vs. -13.9%) on the back of solid demand outlook for the company’s blood thinner drug Eliquis and the label expansion of Opdivo. Eliquis is the leading oral anticoagulant drug and continues to experience growth in its market share.

The label expansion of Opdivo into indications for lung cancer, renal cancer and gastric cancer boosted sales. The recent approval of drugs like Opdualag, Breyanzi and Sotyktu will add a new stream of revenues.

According to the Zacks analyst estimate the BMY’s top line suggest a CAGR of around 1% over the next three years, driven by solid demand for legacy drugs and the approval of new drugs. Shares have outperformed the industry so far this year. However, Revlimid, one of the top revenue generators, is facing generic competition and sales are being adversely impacted.

(You can read the full research report on Bristol-Myers Squibb here >>>)

Shares of Honeywell International have held up a lot better than the peer group as well as the broad market reflecting recovery in commercial flight hours, strong fire products and building management system sales, strong demand in the marine products business and strength in gas processing orders as the key key catalysts helping support the stock.

Over the past year, Honeywell shares have lost -2.7% of their value vs. -15.9% decline for the Zacks Diversified Operations industry and the -17.4% decline for the S&P 500 index.

Following a strong third quarter, the company improved its earnings guidance for 2022. Pricing actions and cost-control measures support the company’s margins. Strong free cash flow generation capacity supports the company’s shareholder-friendly activities.

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

Shares of Sony have underperformed the broader market over the past year (-37.5% vs. -17.4% for the S&P 500 index). The company is witnessing weak global macro-economic conditions, inflation, and increasing tension between United States and China remain major concerns. The company expects its operating income to decline 3.5% year over year, mainly due to a 35% decline in GN&S unit operating income.

Nevertheless, Sony’s performance is gaining from continued strength in Music and Pictures’ segments. The company remains focused on the premium segment of the branded products market to maximize growth. Improving sales at the company Games & Network (GN&S) segment is another tailwind.

The company now expects to sell more than 18-million-unit sales for its PlayStation 5 in the current year. For fiscal 2022, the company now expects overall sales to improve 17% due to higher Music, Pictures and G&NS segment sales. Strategic acquisitions and joint ventures bode well.

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

Other noteworthy reports we are featuring today include Cigna Corporation (CI), Airbnb, Inc. (ABNB) and Republic Services, Inc. (RSG).

Director of Research

Sheraz Mian

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

Eliquis, Opdivo Fuel Bristol (BMY) Amid Generic Competition

Aerospace Unit Drives Honeywell (HON) Amid Supply Chain Woes

Higher Music & Pictures Sales Benefit SONY Amid Rising Costs

Featured Reports

Cigna (CI) Benefits from Strategic Acquisitions, Costs High
Per the Zacks analyst, strategic buyouts are enhancing Cigna's capabilities, leading to top-line growth. However, high operating costs continue to weigh on margins.

Airbnb (ABNB) Banks on Strong Nights & Experiences Bookings
Per the Zacks analyst, strengthening gross nights booked in non-urban areas, and recovery in both long-distance and cross-border travel are benefiting Airbnb's Nights & Experience bookings.

Republic Services (RSG) Strong on Dividends, Liquidity Hurts
The Zacks analyst is positive about Republic Services (RSG) consistent record of returning value to its shareholders. However, low current ratio is a headwind.

Otis (OTIS) Benefits From Innovations Amid Inflationary Woes
Per the Zacks analyst, investments on innovation and acquisitions are benefitting Otis. However, increasing input cost and inflationary pressures are major concerns.

Higher Rates, Loan Growth Aids First Republic (FRC) Revenues
Per the Zacks analyst, First Republic's prospects look promising on consistent rise in loans and deposits. The company continues to benefit from higher interest rates and strong capital position.

Cardinal Health's (CAH) Diverse Products Gives Competitive Edge
Per the Zacks analyst Cardinal Health's diversified portfolio represents long-term opportunities. Its products provide the company with a competitive edge in the niche space with cutthroat competition

Cactus (WHD) to Gain From Higher Wellhead Equipment Sales
The Zacks analyst is upbeat about Cactus witnessing higher wellhead and production-related equipment sales, which is set to increase its cash flow.

New Upgrades

Exploration Progress, Debt Reduction to Aid Freeport (FCX)
According to the Zacks analyst, Freeport will benefit from its progress in exploration activities to expand production capacity and efforts to deleverage its balance sheet.n

DuPont (DD) Benefits from Productivity Action, New Products
Per the Zacks analyst, DuPont's cost and productivity improvement actions will support its margins. It should also gain from new product launches in high-growth markets.

Splunk (SPLK) Rides on Cloud Demand, Solid User Engagement
Per the Zacks analyst, Splunk is likely to benefit from healthy customer engagement and high demand for cloud solutions driven by focus on improving the resilience and security of its critical system.

New Downgrades

Competition & Regulations Ail Plains All American (PAA)
Per the Zacks analyst, Plains All American's (PAA) results likely to be impacted by competition it faces to secure contracts and adherence of regulations could increase cost and lower profitability.

Soft Wireline Service Segment & Stiff Competition to Hurt BCE
Per the Zacks analyst, Continued softness in wireline service revenues owing to a decline in legacy voice, data and satellite TV services remain major concerns for BCE. Stiff competition is a headwind

Helen of Troy (HELE) Troubled by Soft Beauty Segment Sales
Per the Zacks analyst, Helen of Troy is seeing softness in its Beauty unit, wherein sales fell 14.7% in the third quarter. Beauty Core business net sales are likely to drop 18.5-17.5% in fiscal 2023.

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

Bristol Myers Squibb Company (BMY) : Free Stock Analysis Report

Honeywell International Inc. (HON) : Free Stock Analysis Report

Cigna Corporation (CI) : Free Stock Analysis Report

Republic Services, Inc. (RSG) : Free Stock Analysis Report

Airbnb, Inc. (ABNB) : Free Stock Analysis Report

Sony Corporation (SONY) : Free Stock Analysis Report

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Zacks Investment Research