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Research Daily

Sheraz Mian

Top Analyst Reports for JPMorgan Chase, AbbVie & Abbott


Trades from $3

Thursday, August 18, 2022

The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 12 major stocks, including JPMorgan Chase & Co. (JPM), AbbVie Inc. (ABBV) and Abbott Laboratories (ABT). 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 >>>

JPMorgan Chase shares have declined -18.3% over the past year against the Zacks Banks - Major Regional industry’s decline of -8.8%. The company’s capital markets business and higher mortgage rates are likely to make fee income growth challenging due to the uncertain macroeconomic environment. Moreover, steadily rising operating expenses remain a key near-term headwind. Notably, given the possibility of an economic downturn and to meet higher capital requirements, the bank has suspended buybacks.

However, higher interest rates and growth in loan demand are expected to result in a robust improvement in net interest income (NII). Opening new branches, strategic buyouts/investments and global expansion and digitization initiatives are likely to keep aiding the top line.

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

AbbVie shares have outperformed the Zacks Large Cap Pharmaceuticals industry over the past year (+24.0% vs. +4.9%), reflecting the company's successful label expansion of its cancer drugs, Imbruvica and Venclexta. It has several new drugs in its portfolio, which have the potential to drive revenues once Humira loses U.S. exclusivity in 2023.  

Skyrizi and Rinvoq are going strong, bolstered by approval in new indications. It has several early/mid-stage candidates that have blockbuster potential. Allergan’s acquisition has diversified AbbVie’s revenue base into new therapeutic areas, enhancing its long-term growth potential.

However, there are concerns about long-term sales growth once Humira generics enter the U.S. market. Increasing competition from newer therapies is hurting Imbruvica’s sales.

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

Abbott shares have declined -11.7% over the past year against the Zacks Medical - Products industry’s decline of -44.5%. The company’s total worldwide Nutrition and Pediatric Nutrition sales continued to be hampered due to the negative repercussions of a voluntary recall of certain powder formulae produced at one of Abbott's U.S. plants. Decline in organic sales in the Neuromodulation and Vascular businesses in the second quarter also raise worries.

Offsetting these negatives, Abbott continues to enjoy robust organic sales growth across core operating segments, barring Nutrition, as reflected in its latest quarterly release. The Diabetes Care business continued to benefit from the growing sales of sensor-based continuous glucose monitoring system, FreeStyle Libre. The Zacks analyst are particularly upbeat about the receipt of FDA clearance for the company’s FreeStyle Libre 3 system in May 2022

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

Other noteworthy reports we are featuring today include Linde plc (LIN), Intuit Inc. (INTU), and Caterpillar Inc. (CAT).

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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