The Zacks Analyst Blog Highlights Novo Nordisk, Tesla, Airbnb, ONEOK and CDW
For Immediate Release
Chicago, IL – March 13, 2024 – 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: Novo Nordisk A/S NVO, Tesla, Inc. TSLA, Airbnb, Inc. ABNB, ONEOK, Inc. OKE and CDW Corp. CDW.
Here are highlights from Tuesday’s Analyst Blog:
Top Research Reports for Novo Nordisk, Tesla and Airbnb
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 Novo Nordisk A/S, Tesla, Inc. and Airbnb, Inc.. 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 Novo Nordisk have outperformed the Zacks Large Cap Pharmaceuticals industry over the past year (+88.4% vs. +36.8%). The company has one of the broadest diabetes portfolios in the industry. Ozempic and Rybelsus in the diabetes market and obesity drug Wegovy have been performing well fueled by increasing demand.
Label expansions of these drugs in cardiovascular and other indications will likely boost sales. Novo Nordisk has been tackling the supply constraints of Wegovy by increasing its manufacturing capabilities. Wegovy is now indicated in the United States to also reduce heart risks, which is a huge boost. Studies on other pipeline candidates are also progressing well.
Acquisitions to widen its portfolio are also encouraging. However, intense rivalry in the obesity sector threatens Novo Nordisk's market share. Patent expiry and pricing pressure across the diabetes market also remain a woe.
(You can read the full research report on Novo Nordisk here >>>)
Tesla's shares have outperformed the Zacks Automotive - Domestic industry over the past year (+1.9% vs. -6.8%). The company also cautioned that its vehicle volume growth rate for 2024 is expected to be lower than 2023.
That said, production ramp-up at Gigafactory 4 and 5 and new models, including Cybertruck, are set to support long-term delivery growth. Importantly, the prospects of Tesla's Energy Storage business are encouraging. The company anticipates the growth rate of deployments and revenues in the Energy Storage business to surpass that of the Automotive business in 2024.
Robust liquidity and the solid potential of its charging business are other positives. While shrinking margins remain a near-term concern, the Zacks analyst expects Tesla to deliver outsized returns in the long run.
(You can read the full research report on Tesla here >>>)
Shares of Airbnb have outperformed the Zacks Internet - Content industry over the past year (+40.6% vs. +35.2%). The company is benefiting from continuous improvements in Nights and Experiences Booked, enabling it to witness a positive trend in its Gross Booking Value. Growing gross nights booked, owing to solid momentum across high-density urban areas and first-time bookers is a tailwind.
Further, increasing guest demand and continuous recovery in cross-border travel are major positives. Strong momentum in active listings, owing to supply growth across all regions, particularly in Asia Pacific and Latin America, is benefiting the top line. Moreover, growing awareness around hosting and new features introduced for hosts is a plus.
However, greater volatility in travel demand due to macroeconomic uncertainties, rising competition and impacts of geopolitical conflicts, remain concerns.
(You can read the full research report on Airbnb here >>>)
Other noteworthy reports we are featuring today include ONEOK, Inc. and CDW Corp.
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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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Novo Nordisk A/S (NVO) : Free Stock Analysis Report
ONEOK, Inc. (OKE) : Free Stock Analysis Report
Tesla, Inc. (TSLA) : Free Stock Analysis Report
CDW Corporation (CDW) : Free Stock Analysis Report
Airbnb, Inc. (ABNB) : Free Stock Analysis Report
