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Research Daily

Sheraz Mian

Top Analyst Reports for AstraZeneca, NextEra Energy & Boeing Company


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Monday, January 23, 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 AstraZeneca PLC (AZN), NextEra Energy, Inc. (NEE) and The Boeing Company (BA). 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 >>>

AstraZeneca shares have outperformed the Zacks Large Cap Pharmaceuticals industry over the past year (+21.4% vs. +16.2%). The company’s key drugs, mainly cancer medicines, Lynparza, Tagrisso and Imfinzi should keep driving revenues. Its pipeline is strong with several phase III data readouts lined up.

AstraZeneca has also been engaged in external acquisitions and strategic collaborations to boost its pipeline while investing in geographic areas of high growth like emerging markets. The Alexion buyout strengthens its immunology franchise, adding several drugs that are boosting its top line.

However, AstraZeneca’s diabetes franchise faces stiff competition while pricing pressure hurts sales in the respiratory unit. Sales are slowing down in its key market, China. Estimate movement is mixed ahead of the Q4 earnings release. The company has a positive record of earnings surprises in the recent quarters.

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

NextEra Energy shares have outperformed the Zacks Utility - Electric Power industry over the past six months (+1.0% vs. -2.3%). The company continues to expand its operations through the efficient execution of organic projects and acquisitions. The company currently has many renewable projects in its backlog and their completion will ensure reduced emissions.

The merger of Gulf Power and FPL strengthens NextEra’s position in Florida.FPL’s customer base is expanding as Florida’s economy improves and its services become more reliable. Expanding customer base continues to boost demand for its services. NextEra has ample liquidity to meet its near-term debt obligations.

However, the nature of its business is subject to complex federal, state and other regulations. Risk in operating nuclear units, unfavorable weather conditions and an increase in supply costs adversely impact earnings.

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

Shares Boeing Company have outperformed the Zacks Aerospace - Defense industry over the past year (+1.2% vs. -8.8%). The company remains the largest aircraft manufacturer in the United States in terms of revenue, orders and deliveries. Lately, the company has been witnessing solid recovery in its commercial business, particularly in domestic air traffic.

The outlook for its defense business also remains optimistic, buoyed by solid U.S. budgetary amendments. It also holds a strong solvency position in the near term.  However, the 737 MAX is yet to return to service in China thus impacting its expectation of delivery timing and future gradual production rate increases.

Boeing continues to face production quality issues for its 787 program. Boeing incurred cumulative abnormal costs of $1.4 billion through September 2022 and expects to incur nearly $2 billion for the 787 program.

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

Other noteworthy reports we are featuring today include BP p.l.c. (BP), The PNC Financial Services Group, Inc. (PNC) and Centene Corporation (CNC).

Director of Research

Sheraz Mian

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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