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Top Analyst Reports for Texas Instruments, TotalEnergies & Raytheon Technologies

Tuesday, April 11, 2023

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 Texas Instruments Inc. (TXN), TotalEnergies SE (TTE) and Raytheon Technologies Corp. (RTX). 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 Texas Instruments have gained +6.7% over the past year against the Zacks Semiconductor - General industry’s gain of +12.8%. The company is benefiting from growing demand for embedded technologies across the automotive and industrial markets. Moreover, a solid rebound in the automotive market remains a positive.

Further, the strengthening demand in industrial, communication equipment and enterprise systems markets is a tailwind. Notably, solid investments in new growth avenues and competitive advantages remain tailwinds. Further, its portfolio of long-lived products and efficient manufacturing strategies are other positives.

However, pandemic-led supply-chain disruptions and imposition of new export regulations are headwinds. Further, weakness in the Analog segment of the company is a concern. Additonally, softness in the personal electronics end-market remains an overhang.

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

Shares of TotalEnergies have outperformed the Zacks Oil and Gas - Refining and Marketing industry over the past year (+33.5% vs. +17.4%). The company continues to benefit from startups, well-spread LNG assets and an expanding upstream portfolio that has exposure to fast-growing hydrocarbon-producing regions. Lower exposure to mature assets acts as a tailwind.

TTE streamlines its portfolio through acquisitions, partnerships and divestitures. TTE has enough liquidity to meet its near-term debt obligations. TTE is making investments to expand the renewable operation and aims to achieve net-zero emissions by 2050.

However, TTE’s production is impacted by the security-related production cuts in some regions. TTE remains exposed to acquisition-related risks as these assets contribute a sizable volume to production. A natural decline in production and TTE’s withdrawal from Russia might affect profitability.

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

Raytheon Technologies’ shares have outperformed the Zacks Aerospace - Defense Equipment industry over the past six months (+21.4% vs. +18.1%). The company continues to receive ample orders for its combat-proven defense products and expects both domestic and international program growth to remain robust for its defense business.

This should boost the revenue generation prospects for its defense business. A steady recovery in commercial air traffic continues to boost commercial OEM as well as commercial aftermarket sales for it. The stock holds a solid solvency position.

Yet, economic sanctions imposed by governments in response to Russia’s invasion of Ukraine might hurt Raytheon. A comparative analysis of its trailing 12-month Price/Book ratio indicates a relatively gloomy picture, which may concern investors’. The appreciating U.S. dollar has been burdening airlines, which may hurt the stock.

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

Other noteworthy reports we are featuring today include Morgan Stanley (MS), Sony Group Corp. (SONY) and The Progressive Corp. (PGR).

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

Embedded Processing Strength Aids Texas Instruments (TXN)

Expanding LNG & Clean Energy Assets Aid TotalEnergies (TTE)

Order Growth Aids Raytheon (RTX), Sanction Impacts Hit

Featured Reports

Buyouts Support Morgan Stanley (MS), Capital Markets A Woe
Per the Zacks analyst, acquisitions with an aim to be less capital-markets dependent, higher rates and solid balance sheet aid Morgan Stanley. Yet, capital markets ambiguity and rising costs are woes.

SONY Benefits From Improving Music & G&NS Segment Sales
Per the Zacks analyst, Sony is gaining from strong performance of its Music and G&NS segments. However, stiff competition and weak global macroeconomic conditions remain major concerns

Progressive (PGR) Gains on Premiums, Cat Loss Woes Linger
Per the Zacks analyst, Progressive is set to grow on solid Agency and Direct business, which will drive improvement in net premiums. However, exposure to catastrophe loss remains a headwind.

Strong Demand, Dividends & Buybacks Aid Illinois Tool (ITW)
Per the Zacks analyst, strong demand in the capital equipment and industrial businesses bodes well for the company. Its efforts to reward shareholders via dividends and share buybacks are impressive.

Solid Product Suite Aid Ecolab (ECL) Amid Stiff Competition
The Zacks analyst is upbeat about Ecolab's robust product portfolio, delivering comprehensive solutions and personalized service, despite its operation in a highly competitive market.

Empaveli, Syfovre Fuel Growth For Apellis (APLS)
Per the Zacks analyst, the encouraging uptake of Empaveli and approval of additional drugs should fuel growth for Apellis. However, Apellis faces stiff competition for its products.

Crestwood Partners (CEQP) to Gain On Crude Gathering Volumes
The Zacks analyst believes that Crestwood Partners' 320,000-barrels-of-crude-oil-per-day of gathering pipelines will help generate incremental cash flows. Yet, its balance sheet weakness is concerning

New Upgrades

Gartner (IT) Rides on Solid Demand for Research Report
Per the Zacks analyst, a large and diverse addressable market as well as the company's comprehensive analytical research reports are success factors for Gartner (IT).

Asbury (ABG) Rides on Strategic Buyouts & E-Commerce Efforts
Acquisitions of Larry H. Miller Dealerships and Total Care Auto are driving Asbury's prospects, per the Zacks analyst. The company's end-to-end e-commerce platform-Clicklane-is also fueling sales.

Steady Subscription & Political Ad Revenues Aid TEGNA (TGNA)
Per the Zacks analyst, TEGNA is benefiting from continued spike in subscription revenues and strong spending on political advertisements.

New Downgrades

Elevated Expenses Hurt F.N.B. Corp (FNB), Higher Rates Aid
Per the Zacks analyst, elevated expenses because of F.N.B. Corp's inorganic growth efforts and investments in franchise will hurt the bottom line. Yet, rising rates and loan balance are tailwinds.

Buyouts Aid United Rentals (URI) Amid Volatile Energy Prices
Per the Zacks analyst, United Rentals benefits from accretive acquisitions and fleet investments. However, stiff competition and volatile energy prices hurt.

Foot Locker's (FL) Gross Margin Hurt by Deleveraged Costs
Per Zacks analyst, Foot Locker is witnessing weak gross margin for a while now. In fiscal 2023, gross margin is likely to fall 90-110 basis points on promotional pressures and higher occupancy costs.

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

Morgan Stanley (MS) : Free Stock Analysis Report

Texas Instruments Incorporated (TXN) : Free Stock Analysis Report

The Progressive Corporation (PGR) : Free Stock Analysis Report

Raytheon Technologies Corporation (RTX) : Free Stock Analysis Report

Sony Corporation (SONY) : Free Stock Analysis Report

TotalEnergies SE Sponsored ADR (TTE) : Free Stock Analysis Report

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Zacks Investment Research