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Top Stock Reports for NextEra Energy, Caterpillar & Micron Technology

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Mark Vickery
·6 min read
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Monday, December 7, 2020

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 NextEra Energy, Inc. (NEE), Caterpillar Inc. (CAT) and Micron Technology, Inc. (MU). 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 NextEra Energy have gained +23.8% over the past year against the Zacks Utility - Electric Power industry’s decline of -7.1%. The Zacks analyst believes that the company has a well-chalked out capital investment plan to strengthen its infrastructure and add clean assets to the generation portfolio.

NextEra extended long-term growth outlook through 2023 and is on course to achieve the same despite disruptions caused by the pandemic outbreak. It is poised to benefit from $50-$55B investment plan through 2022.

However, its nature of business is subject to complex and comprehensive federal, state, as well as other regulations. If the planned nuclear plant outages last longer or an unplanned outage occurs, the company’s operations and profitability might be hampered.

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

Caterpillar shares have outperformed the Zacks Manufacturing - Construction and Mining industry in the year to date period (+23.4% vs. +22.7%), but for the fourth quarter the company anticipates demand to remain weak but at improved levels than the third quarter. A weak backlog, lowering of inventory by dealers and weakness in non-residential construction will impact results in 2020. However, its ongoing cost reduction efforts will sustain margins in this scenario.

Further, a recovering manufacturing sector, resumption of spending at miners, improved North American residential construction and strong construction demand in China hold promise. Further, strong liquidity position, investments in expanded offerings and services and digital initiatives will fuel growth.

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

Micron Technology shares have gained +36.4% in the year-to-date period against the S&P 500’s rise of +15.1%. The Zacks analyst believes that Micron is witnessing growing demand for memory chips from cloud-computing providers and acceleration in 5G adoptions.

A rising mix of high-value solutions, enhancement in customer engagement and improvement in cost structure are growth drivers as well. Further, 5G (fifth-generation) adoption beyond mobile is likely to spur demand for memory and storage, particularly in IoT (Internet of Things) devices and wireless infrastructure.

Nonetheless, Micron’s near-term performance might be hurt by the bleak memory-chip demand as customers are adjusting inventories in response to the economic recession caused by the coronavirus outbreak. Further, soft server demand from several enterprise OEM (original equipment manufacturer) customers is a concern.

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

Other noteworthy reports we are featuring today include CME Group Inc. (CME), Dominion Energy, Inc. (D) and Emerson Electric Co. (EMR).

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Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.

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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

NextEra (NEE) Gains from Steady Investment, Renewable Focus

Caterpillar (CAT) Bets on Cost Control Amid Weak Demand

Micron (MU) Benefits from Growing Memory-Chip Demand

Featured Reports

Acceleron (XLRN) Reblozyl Holds Promise, Setbacks A Concern

Acceleron (XLRN) lead drug Reblozyl promises potential and the label expansion of the drug should fuel growth.

Transco Pipeline System Aids Williams (WMB) Amid Debt Woes

While Williams' expansion projects for its core Transco system of pipelines should buoy the firm's revenues and cash flows, the Zacks analyst is worried over the considerable debt load.

Automation Solutions Drives Emerson (EMR), Debt Remains High

Per the Zacks analyst, solid traction of Emerson's Automation Solutions segment, fueled by robust backlog level and healthy project bookings, will drive its sales.

Teleflex (TFX) Rides on Urolift Uptake, Asia Wing Remains Dull

The Zacks analyst is positive about a significant surge in Teleflex' web traffic seeking for Urolift installation. The company's Asia business is facing with a sale decline due to COVID-19.

Red Rock (RRR) Banks On Las Vegas Operations, Coronavirus Ail

Per the Zacks analyst, Red Rock is likely to benefit from Las Vegas operations, cost saving initiatives and development pipeline.

Investment on Clean Assets & Infrastructure Aid Dominion (D)

Per the Zacks analyst, Dominion's planned investment in the range of $23.9B through 2022 to enhance clean electricity generation and strengthen its infrastructure will boost its profitability.

Delivery Business Aids Uber (UBER) Amid Mobility Weakness

Per the Zacks analyst, continued growth in delivery business is keeping Uber afloat amid coronavirus-led weakness in the Mobility unit.

New Upgrades

Strategic Buyouts, Solid Balance Sheet Aid Extra Space (EXR)

Per the Zacks analyst, Extra Space Storage is poised to benefit from its high brand value, healthy demand, robust presence in key cities, strategic acquisitions and solid balance-sheet position.

Solid Adoption of Public Cloud Solutions Aids NetApp (NTAP)

Per the Zacks analyst, continued innovation in flash-based solutions and strong momentum in Public Cloud Services will continue to benefit NetApp's top-line growth.

Consumers' Shifting Preference Aids Newell's (NWL) Top Line

Per the Zacks analyst, Newell is witnessing sales growth as consumer preference has shifted to certain products. Notably, third-quarter 2020 sales grew 5.1% year over year.

New Downgrades

Weak Demand & Elevated Debt Levels to Hurt Meritor (MTOR)

Softening heavy-duty truck markets and declining demand for truck parts are likely to dent Meritor's earnings. Rising debt levels also restrict the firm's financial freedom, per the Zacks analyst. nn

Dismal Traffic, Rent Collections Hurt Regency Centers (REG)

Per the Zacks analyst, Regency Centers' performance might be impacted by low footfall at its properties amid the social-distancing wave and higher e-commerce adoption. Rent collection woes prevail.

Escalating Cost, Concentration Risk Hurt CME Group (CME)

Per the Zacks analyst, CME's rising expenses pressuring margin and dependence on trading volumes from two product lines for significant portion of its clearing and transaction fee revenues concerns.

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
NextEra Energy, Inc. (NEE) : Free Stock Analysis Report
Micron Technology, Inc. (MU) : Free Stock Analysis Report
Emerson Electric Co. (EMR) : Free Stock Analysis Report
Dominion Energy Inc. (D) : Free Stock Analysis Report
CME Group Inc. (CME) : Free Stock Analysis Report
Caterpillar Inc. (CAT) : Free Stock Analysis Report
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