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The Zacks Analyst Blog Highlights Berkshire Bristol-Myers Squibb, Verizon Communications, Canadian National Railway, Airbnb and First Republic Bank

For Immediate Release

Chicago, IL – November 7, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Berkshire Bristol-Myers Squibb Co. BMY, Verizon Communications Inc. VZ, Canadian National Railway Co. CNI, Airbnb, Inc. ABNB and First Republic Bank FRC.

Here are highlights from Friday’s Analyst Blog:

Top Analyst Reports for Bristol-Myers, Verizon and Canadian National

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 Berkshire Bristol-Myers Squibb Co., Verizon Communications Inc. and Canadian National Railway Co. 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 shares have outperformed the Zacks Medical - Biomedical and Genetics industry over the past year (+32.5% vs. -30.2%). The Zacks analyst believes that solid demand for the blood thinner drug, Eliquis and the label expansion of Opdivo should maintain momentum. 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 added a new stream of revenues. Our estimates for BMY’s top line suggest a CAGR of around 1.2% over the next three years, driven by solid demand for legacy drugs and the approval of new drugs.

However, Revlimid, one of the top revenue generators, is facing sales decline year over year due to generic competition.

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

Shares of Verizon Communications have underperformed the Zacks Wireless National industry over the past year (-28.5% vs. -15.8%). The company reiterated its soft guidance for 2022 due a to challenging macroeconomic environment. An intensely competitive market and hefty expenses on promotions and lucrative discounts to attract customers are likely to hurt profitability. Spectrum crunch with a saturated wireless market is a headwind.

However, Verizon reported relatively healthy third-quarter 2022 results with the bottom line and the top line beating the respective Zacks Consensus Estimate. It plans to accelerate the availability of the 5G Ultra-Wideband network with C-Band deployment, focusing on 5G mobility, nationwide broadband, mobile edge computing and business solutions.

It is offering various mix-and-match pricing in both wireless and home broadband plans. Customer-focused planning, disciplined engineering and continued network upgrades will likely augment its market position.

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

Canadian National Railway shares have declined -10.4% over the past year against the Zacks Transportation - Rail industry’s decline of -16.8%. The company is facing supply chain disruptions, network fluidity challenges and weak Canadian grain crops are hurting the company’s volumes. Escalating fuel prices amid the Russia-Ukraine war pose a threat to Canadian National's bottom line. The company’s weak liquidity position is an added concern.

However, Canadian National's efforts to reward its shareholders via dividends and buybacks are encouraging and highlight the company's financial strength. In January, the company announced a 19% dividend hike. Canadian National is also active on the share buyback front.

Strong cash flow generating-ability supports Canadian National's shareholder-friendly activities. The company is benefiting from strong freight demand and solid pricing. With this, management expects adjusted earnings to increase 25% year over year in the current year.

(You can read the full research report on Canadian National Railway here >>>)

Other noteworthy reports we are featuring today include Airbnb, Inc. and First Republic Bank.

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Zacks Investment Research

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.


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Bristol Myers Squibb Company (BMY) : Free Stock Analysis Report
 
Verizon Communications Inc. (VZ) : Free Stock Analysis Report
 
Canadian National Railway Company (CNI) : Free Stock Analysis Report
 
First Republic Bank (FRC) : Free Stock Analysis Report
 
Airbnb, Inc. (ABNB) : Free Stock Analysis Report
 
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