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The Zacks Analyst Blog Highlights: Chevron, Wells Fargo & Company, Medtronic, Sony and EOG Resources

Zacks Equity Research

For Immediate Release

Chicago, IL – August 04, 2017 – 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 includeChevron Corporation (NYSE:CVX – Free Report), Wells Fargo & Company (NYSE:WFC – Free Report), Medtronic plc (NYSE:MDT – Free Report), Sony Corp. (NYSE:SNE – Free Report) and EOG Resources, Inc. (NYSE:EOG – Free Report).  

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Here are highlights from Thursday’s Analyst Blog:

Top Analyst Reports for Chevron, Wells Fargo & Medtronic

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 Chevron Corporation (NYSE:CVX – Free Report), Wells Fargo & Company (NYSE:WFC – Free Report) and Medtronic plc (NYSE:MDT – Free Report). 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 >>>

Following outperformance in 3 of the last 4 quarters, shares of Chevron have risen +10% in the past year, outperforming the broader industry's +4.7%, while larger rival ExxonMobil has seen its scrip go down -7.8% over the same time period.  The second-largest U.S. oil producer beat its Q2 earnings expectations amid recovery in commodity prices, production gains and the success of its cost savings initiatives.

However, with oil testing the psychologically-critical $50 threshold again, the near-to-medium term revenue outlook for Chevron – one of the most oil weighted majors – remains cloudy. Moreover, Chevron is still outspending its cash flow, making it dependent on asset sales. Hence, the Zacks analyst advises investors to wait for a better entry point before buying shares in the oil major.

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

Wells Fargo’s shares have underperformed the broader industry this year, losing -2.7% in the year to date period. The company’s second-quarter 2017 earnings outpaced the Zacks Consensus Estimate. The company witnessed organic growth aided by strong loans and deposit balances, along with higher net interest income. Though expenses remain elevated, the company plans $4 billion of cost cuts by 2019.

Moreover, though lesser regulations on lending and capital levels are not expected any time soon, these are likely to reduce costs of compliance significantly and allow banks to grow lending. Further, rising rates are easing margin pressure to an extent.

The current crisis related to the revelation of illegally opening millions of illegal accounts last year at the company will take some time to alleviate. Hence, the covering analyst believes that consistent growth in loans and deposits and expansions will likely support the company’s growth profile.

(You can read the full research report on Wells Fargo here >>>).

In the last three months, Medtronic has been observed to underperform the broader industry (-0.8% vs. +3.6%). Escalating costs and expenses are weighing on margins. Also, unfavorable foreign exchange continues to remain a drag.

However, Medtronic’s major business groups continue to contribute to solid top-line growth which highlighted sustainability across groups and regions. Recently, the company announced receipt of F.D.A approval and C.E. Mark for its Avalus surgical valve and CE Mark for CoreValve Evolut PRO Transcatheter valve.

The Zacks analyst is also encouraged by the solid growth trend, continuing in the U.S. as well as the healthy global acceptance of its advanced therapies. Apart from product innovation, Medtronic is focusing on geographical diversification of business.

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

Other noteworthy reports we are featuring today include Sony Corp. (NYSE:SNE – Free Report) and EOG Resources, Inc. (NYSE:EOG – Free Report).

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About Zacks Equity Research

Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.

Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.

Strong Stocks that Should Be in the News

Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has nearly tripled the market from 1988 through 2015. Its average gain has been a stellar +26% per year.See these high-potential stocks free >>.

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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/performancefor information about the performance numbers displayed in this press release.

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Wells Fargo & Company (WFC) : Free Stock Analysis Report
Sony Corp Ord (SNE) : Free Stock Analysis Report
Medtronic PLC (MDT) : Free Stock Analysis Report
Chevron Corporation (CVX) : Free Stock Analysis Report
EOG Resources, Inc. (EOG) : Free Stock Analysis Report
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