Yahoo Finance The Zacks Analyst Blog Highlights Novo Nordisk, Salesforce, Comcast, Honeywell International and The Progressive
For Immediate Release
Chicago, IL – April 21, 2023 – 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, Salesforce, Inc. CRM, Comcast Corp. CMCSA, Honeywell International Inc. HON and The Progressive Corp. PGR.
Here are highlights from Thursday’s Analyst Blog:
Top Research Reports for Novo Nordisk, Salesforce and Comcast
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, Salesforce, Inc. and Comcast Corp. 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 >>>
Novo Nordisk's shares have outperformed the Zacks Large Cap Pharmaceuticals industry over the past year (+45.1% vs. +10.5%). The company has one of the broadest diabetes portfolios in the industry. Ozempic and Rybelsus have been performing well in the market. Saxenda and Wegovy sales have been gaining and maintaining momentum. Label expansion of the diabetes drugs is likely to further boost sales.
The supply issues with Wegovy have been resolved, which led to a sales increase in the first quarter of 2023. Novo upped its full-year guidance, based on this encouraging Wegovy growth trend. The company's diversifying efforts to develop new treatments are reassuring.
However, the patent expiry on some of the products in Novo Nordisk's portfolio remains a concern. Estimates have improved ahead of the first quarter earnings release. Novo has a mixed record of earnings surprises in recent quarters.
(You can read the full research report on Novo Nordisk here >>>)
Shares of Salesforce have outperformed the Zacks Computer - Software industry over the past year (+6.3% vs. +3.3%). The company is benefiting from a robust demand environment as customers are undergoing a major digital transformation. The rapid adoption of its cloud-based solutions is driving demand for its products.
Sustained focus on introducing more aligned products as per customer needs is driving its top-line. Continued deal wins in the international market is another growth driver. The acquisition of Slack would position the company to be a leader in enterprise team collaboration solution space and better compete with Microsoft's Teams product.
The Zacks analyst expect CRM revenues to grow at a CAGR of 11.2% through fiscal 2024-2026. However, stiff competition and unfavorable currency fluctuations are concerns. Challenging macroeconomic environment might hurt its growth prospects in the near-term.
(You can read the full research report on Salesforce here >>>)
Shares of Comcast have outperformed the Zacks Cable Television industry over the past six months (+26.7% vs. +16.6%). The company is benefiting from a growing wireless subscriber base as witnessed in the third quarter. Broadband user base increased in the reported quarter. Comcast's plan to transition to DOCSIS 4.0 is noteworthy.
The technology will help it in expanding much faster and at a lower cost compared to competitors. Recovery in its Park and Movie business bodes well for Comcast's profitability. Its streaming service Peacock is a key catalyst in driving broadband sales. Strong free cash flow generation ability is noteworthy.
However, Comcast persistently suffers from video-subscriber attrition due to cord-cutting. Moreover, broadband prospects are suffering from increased competition from fixed wireless as well as fiber. Additionally, a leveraged balance sheet is a major concern.
(You can read the full research report on Comcast here >>>)
Other noteworthy reports we are featuring today include Honeywell International Inc. and The Progressive 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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Salesforce Inc. (CRM) : Free Stock Analysis Report
Honeywell International Inc. (HON) : Free Stock Analysis Report
Novo Nordisk A/S (NVO) : Free Stock Analysis Report
Comcast Corporation (CMCSA) : Free Stock Analysis Report
The Progressive Corporation (PGR) : Free Stock Analysis Report
