Top Stock Reports for NVIDIA, Pfizer & Abbott
Friday, November 27, 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 NVIDIA (NVDA), Pfizer (PFE) and Abbott Laboratories (ABT). 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 >>>
NVIDIA shares have vastly outperformed the Zacks General Semiconductor industry in the year-to-date period (+127.5% vs. +32.3%), which reflects the company's emergence as an AI and analytics powerhouse on top of its legacy GPU dominance.
It is also benefiting from strong growth in GeForce desktop and notebook GPUs, which is boosting gaming revenues. Moreover, a surge in Hyperscale demand remains a tailwind for the company’s Data Center business. Expansion of NVIDIA GeForce NOW is expected to drive user base. Further, solid uptake of AI-based smart cockpit infotainment solutions is a boon.
Additionally, collaboration with Daimler-owned Mercedes-Benz is expected to further strengthen NVIDIA’s presence in the autonomous vehicles and other automotive electronics space. However, management expects COVID-19 pandemic to negatively impact near-term revenues by $100 million. Moreover, the U.S.-China trade war remains a key concern.
(You can read the full research report on NVIDIA here >>>)
Shares of Pfizer have lost -3.7% over the past year against the Zacks Large-Cap Pharmaceuticals industry’s gain of +3.3%. The Zacks analyst believes that the company’s strong portfolio of new drugs will lead to accelerated growth.
The Consumer Healthcare joint venture with Glaxo and the merger of Upjohn unit with Mylan has made Pfizer a smaller company with a diversified portfolio of innovative drugs and vaccines. The smaller Pfizer should see better revenue growth as the Lyrica loss of exclusivity (LOE) cliff will go away. Pfizer expects strong growth of key brands like Ibrance, Inlyta and Eliquis to drive sales.
The focus remains on whether the FDA grants Emergency Use approval to its COVID-19 vaccine candidate. However, coronavirus-related business disruption hurt sales in Q2 and Q3. The pace of recovery of COVID-19 impact is slower than expected. Meanwhile, currency headwinds and pricing pressure are other top-line headwinds.
(You can read the full research report on Pfizer here >>>)
Abbott shares have gained +16.8% over the past six months against the Zacks Medical Products industry’s rise of +7.2%. The Zacks analyst believes that the branded generics and international diabetes businesses should drive growth in the coming quarters. New product launches and acquisitions should boost sales further.
Abbott witnessed double digit organic sales growth and high teens EPS growth in the third quarter of 2020. The company has been seeing improvements in testing and procedure volumes across its hospital-based businesses.
At the same time, its consumer-facing businesses like diabetes care, nutrition and established pharmaceuticals (EPD), are catching up pace following an initial hiccup witnessed during the first few months of the pandemic. In the third quarter, Abbott launched Libre 2 in the United States and obtained CE Mark for Libre 3. In Europe, the company also launched Libre Sense Glucose Sport.
(You can read the full research report on Abbott here >>>)
Other noteworthy reports we are featuring today include United Parcel Service (UPS), Eli Lilly (LLY) and ICICI Bank (IBN).
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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
Strong GPU Adoption in Gaming, Datacenter Aids NVIDIA (NVDA)
Ibrance & Other Key Drugs to Drive Pfizer's (PFE) Sales
Strength in Molecular Testing Aids Abbott (ABT) Amid Pandemic
Featured Reports
UPS Gets a Boost From Solid Cash Flow and E-commerce Trend
The Zacks analyst is impressed by the company's robust free cash-flow generating ability.
Trulicity, Taltz to Drive Lilly's (LLY) Sales Amid Pricing Woes
The Zacks analyst believes that Lilly's sales will be driven by higher demand for its key drugs amid pricing woes.
Digitization Aid ICICI Bank (IBN) Fee Income, Costs a Woe
Per the Zacks analyst, the rise in digitization and internet banking amid the pandemic will aid ICICI Bank's fee income.
Strategic Buyouts Aid Johnson Controls (JCI) Amid Cost Woes
While a series of buyouts has enhanced Johnson Control's product line, high commodity costs and forex woes have dented margins, per the Zacks analyst.
Solid Top Line, Cash Flows Drive Arthur J. Gallagher (AJG)
Per the Zacks analyst, strategic initiatives have enhanced the company's capabilities, which in turn have bolstered the top line.
Check Point (CHKP) Rides on Product Portfolio Strength
Per the Zacks analyst, Check Point is gaining from solid contributions of its growth-oriented products, primarily CloudGuard, Sandblast Zero-day threat prevention, and Infinity solutions.
Sunbelt Focus Boosts Mid-America Apartment (MAA), Supply Ails
Per the Zacks analyst, employment shifts and inbound population migration patterns are driving demand for Mid-America Apartment's Sunbelt-located properties.
New Upgrades
End-Market Strength and Buyouts to Aid Parker-Hannifin (PH)
Per a Zacks analyst, Parker-Hannifin (PH) is poised to gain from growth opportunities within life science, semiconductor, military, and rail end markets in the quarters ahead.
Strong Resources & Utilities Segment Benefits Trimble (TRMB)
Per the Zacks analyst, Trimble is riding on growing momentum across the agriculture and utilities businesses, which is driving solid growth in its Resources and Utilities segment.
Truly Brand Investments to Shape Boston Beer's (SAM) Growth
Per the Zacks analyst, Truly brand investments are sequentially bolstering Boston Beer's share in the hard seltzer market since early 2020.
New Downgrades
Hanesbrands' (HBI) Activewear Segment Soft, Innerwear Solid
Per the Zacks analyst, Hanesbrands is hurt by softness in the Activewear unit due to weakness in the tsports apparel business amid the pandemic.
Weak Refining Margins to Weigh on HollyFrontier (HFC)
The Zacks analyst believes that the significantly lower refining margins and weak oil product demand are set to hurt HollyFrontier's earnings and cash flows.
Travel Restrictions & High Costs Hurt Red Rock Resorts (RRR)
Lower revenues along with coronavirus-related costs and travel restrictions have been impacting Red Rock Resorts' performance.
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United Parcel Service, Inc. (UPS) : Free Stock Analysis Report
Pfizer Inc. (PFE) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
Eli Lilly and Company (LLY) : Free Stock Analysis Report
ICICI Bank Limited (IBN) : Free Stock Analysis Report
Abbott Laboratories (ABT) : Free Stock Analysis Report
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