Tuesday, December 9, 2025

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 JPMorgan Chase & Co. (JPM), EPAM Systems, Inc. (EPAM) and Costco Wholesale Corp. (COST). 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 >>>

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You can read today's AWS here >>> Pre-markets "Risk Off" Ahead of Wednesday's Fed Decision

Today's Featured Research Reports

Shares of JPMorgan Chase have gained +32.1% over the past year against the Zacks Financial - Investment Bank industry’s gain of +33.1%. The company shares were driven by continued operational strength amid cost concerns and a weak asset quality. Business expansion efforts, loan demand and changes in interest rates will aid net interest income (NII) growth. 

The Zacks analyst projects NII to witness a CAGR of 3.3% by 2027. In investment banking (IB), the company’s solid pipeline and market leadership remain competitive strengths, though capital markets volatility and elevated mortgage rates are likely to weigh on fee income. Our estimates for non-interest income don’t show a favorable trend this year. 

Technology and marketing investments will keep costs elevated. The Zacks analyst expects expenses to reflect a CAGR of 4.4% by 2027. A tough macro backdrop raises concerns about asset quality. We expect provisions to rise 10.5% in 2025.

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

Shares of EPAM have declined -12.9% over the year-to-date period against the Zacks Computers - IT Services industry’s decline of -13.3%. The company is gaining from the ongoing digital transformation by enterprises and a continued focus on customer engagement and product development. EPAM’s sustained focus on strategic acquisitions and partnerships enhances its product portfolio and drives top-line growth. 

The Zacks analyst model estimates suggest that EPAM’s revenues are expected to witness a CAGR of 9.8% between 2025 and 2027. Its substantial investment in Gen AI capabilities is expected to boost growth as AI becomes increasingly integral to enterprise operations. 

A sustained focus on realigning the cost structure with the current demand environment is likely to benefit margins. Intensifying competition and unfavorable forex are other major concerns.

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

Shares of Costco have underperformed the Zacks Retail - Discount Stores industry over the past year (-10.4% vs. +0.1%). Being a consumer defensive stock, the company has survived the market turmoil, supported by its resilient membership-based model, disciplined pricing, and operational excellence. 

Costco’s consistent renewal rates and expanding member base reinforce its dependable recurring revenue stream, while the Kirkland Signature brand continues to drive margin strength. Robust e-commerce momentum and growing adoption of digital fulfillment services enhance Costco’s omnichannel reach, driving traffic. 

Strategic sourcing, diversification, and supply chain efficiency have helped mitigate tariff and cost pressures. Backed by a solid liquidity position, Costco remains well-positioned to capitalize on global growth opportunities. 

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

Other noteworthy reports we are featuring today include Morgan Stanley (MS), América Móvil, S.A.B. de C.V. (AMX) and First Solar, Inc. (FSLR).

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>>>