Thursday, September 17, 2026

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 Applied Materials, Inc. (AMAT), Philip Morris International Inc. (PM) and Valero Energy Corp. (VLO), as well as two micro-cap stocks Crimson Wine Group, Ltd. (CWGL) and Global Self Storage, Inc. (SELF). The Zacks microcap research is unique as our research content on these small and under-the-radar companies is the only research of its type in the country.

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 Up on Lower Oil Prices, Strong Data

Today's Featured Research Reports

Applied Materials’ shares have outperformed the Zacks Electronics - Semiconductors industry over the year-to-date period (+64.3% vs. +23.3%). The company is benefiting from AI-driven investment that is concentrating wafer fabrication spending in leading-edge foundry-logic, DRAM and advanced packaging, where its materials engineering portfolio has broad exposure. 

New process tools, rising advanced packaging demand and a larger connected service base support continued share capture and value-based pricing. Longer customer forecasts and planned manufacturing expansion improve visibility into another growth year, while recurring services and disciplined capital returns add resilience. 

However, risks remain from capital spending cyclicality, reliance on large customers, China-related export controls, competitive intensity and the execution burden of scaling capacity. Even so, the current demand mix and margin trajectory support an Outperform view over the next cycle.

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

Shares of Philip Morris have outperformed the Zacks Tobacco industry over the year-to-date period (+21.4% vs. +17%). The company has been benefiting from strong pricing power, favorable product mix and steady growth in its smoke-free portfolio. IQOS, ZYN and VEEV continue to support the company’s transition across key markets, with smoke-free products contributing about 42% of second-quarter 2026 revenues. 

In the first half, net revenues rose 9.8% and adjusted EPS increased 15.6%, while productivity savings helped offset higher investments in innovation, marketing and commercial initiatives. 

However, cigarette volumes remain in structural decline, with full-year shipments expected to fall 2-3%. The U.S. business also remains under pressure from weaker first-half results, elevated spending and execution risks related to ZYN and IQOS ILUMA. Regulatory restrictions on tobacco products remain another key concern for long-term demand and profitability.

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

Valero Energy’s shares have outperformed the Zacks Oil and Gas - Refining and Marketing industry over the year-to-date period (+151.8% vs. +138.8%). The company’s performance reflects a favorable mix of refining scale, feedstock flexibility, export reach and disciplined capital returns. Tight global product inventories and constrained refining capacity support margin capture, while access to discounted heavy crude reinforces its complex system.

Renewable diesel and ethanol add earnings diversity, and the St. Charles optimization project should lift high-value output. Ample liquidity and low net leverage support buybacks and operational investment. 

However, risks remain from refining margin normalization, California supply changes, low-carbon policy and Port Arthur repair execution. Commodity volatility can also delay the release of excess cash and make shareholder returns less predictable. Even so, asset quality, earnings breadth and financial flexibility support an Outperform view.

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

Shares of Crimson Wine have underperformed the Zacks Beverages - Alcohol industry over the year-to-date period (-10.2% vs. +15.1%). This microcap company with a market capitalization of $94.04 million is facing risks which include weakness in wine-club and tasting-room activity, pressure on direct-to-consumer margins, and uncertainty from a major distributor’s bankruptcy. Elevated leverage, reduced liquidity, refinancing concentration and a more constrained capital-allocation profile also increase sensitivity to operating performance and the pace of earnings normalization.

Nevertheless, Crimson’s investment case is supported by its vertically integrated estate model, which strengthens sourcing control, supports premium positioning and promotes long-term cost efficiency. 

The Raeburn acquisition has broadened the brand portfolio and strengthened wholesale scale, while the planned Double Canyon asset sale could simplify the portfolio and improve financial flexibility. Wholesale momentum is supporting growth, and the high-margin direct-to-consumer channel remains strategically important despite softer demand. 

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

Global Self Storage’s shares have gained +5.9% over the year-to-date period against the Zacks REIT and Equity Trust - Other industry’s gain of +11.1%. This microcap company with a market capitalization of $58.25 million has its investment case supported by its focus on underserved secondary and tertiary markets, high occupancy, long tenant retention, disciplined pricing and technology-enabled operations. 

Global Self Storage’s fragmented-market opportunity, third-party management platform, redevelopment activity and available liquidity provide multiple avenues for expansion. However, elevated operating-cost growth, weaker net operating income (NOI) and AFFO, limited revenue monetization at already-high occupancy and a relatively small portfolio constrain near-term earnings leverage. 

The high payout ratio also limits dividend flexibility, while rising overhead and potential equity dilution warrant monitoring. The valuation suggests that further upside will likely depend on stronger operating performance, improved cash-flow generation and successful execution of SELF’s growth initiatives.

(You can read the full research report on Global Self Storage here >>>)

Other noteworthy reports we are featuring today include ONEOK, Inc. (OKE), Nebius Group N.V. (NBIS) and Comfort Systems USA, Inc. (FIX).

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>>>