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Research Daily

Sheraz Mian

Top Analyst Reports for Citigroup, Abbott & Intercontinental Exchange


Trades from $3

Wednesday, June 2, 2021

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 Citigroup Inc. (C), Abbott Laboratories (ABT) and Intercontinental Exchange, Inc. (ICE). 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 Citigroup have modestly lagged the Zacks Banks - Major Regional industry in the last six-month period (+41.4% vs. +41.7%), but the company appears well positioned for patient long-term investors. The company has an impressive earnings surprise history, having beaten the Zacks Consensus Estimate in each of the trailing four quarters.

The Zacks analyst, in fact, believes that Citigroup’s streamlining efforts, along with strategic investments in core business, bode well. Also, net interest revenues are likely to be supported by loan growth and mix, despite the low interest rate environment. Further, manageable debt level makes it less likely to default interest and debt repayment obligations in case of any economic downturn. Efforts to enhance shareholders' value through capital deployment activities is encouraging.

However, pending litigation issues might keep legal expenses elevated for the company. Additionally, a subdued consumer banking business might dent fee income base to some extent.

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

Abbott shares have underperformed the Zacks Medical - Products industry in the last six-month period (-1.6% vs. +2.7%). Following a lower-than-expected earnings and revenue performance in first quarter 2021, the company in June lowered its 2021 financial guidance on declining demand for COVID testing.

The Zacks analyst believes that the company’s disappointing performance in Pediatric Nutrition is concerning. However, year-over-year improvements were robust in the first quarter. The company registered organic sales growth across each operating segment.

In Adult Nutrition, the company reported robust global demand for Ensure and Glucerna. Diabetes Care sales were strong on solid worldwide adoption of FreeStyle Libre. Diagnostics sales were extremely strong in the first quarter driven by demand for BinaxNOW, Panbio and ID NOW rapid testing platforms.

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

Shares of Intercontinental Exchange have gained +12.2% in the last one-year period against the Zacks Securities and Exchanges industry’s gain of +12.7%. The Zacks analyst believes that Intercontinental Exchange’s top line was driven by the compelling product and service portfolio, broad range of risk management services and strength in global data services. Continued strength in its energy franchise, improving recurring market data revenues and ongoing initiatives are likely to keep growth on track.

Moreover, strategic buyouts will help it achieve cost synergies that are in sync with its aim of generating long-term value for shareholders. It is well-poised for growth on the back of accelerated digitization. However, its expenses are likely to remain elevated in the near term. Foreign currency fluctuations and stricter regulations raise concerns. Increasing interest expenses and high leverage raise financial risk.

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

Other noteworthy reports we are featuring today include Humana Inc. (HUM), BCE, Inc. (BCE) and AutoZone, Inc. (AZO).

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Sheraz Mian

Director of Research

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>>>

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