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The Zacks Analyst Blog Highlights LPL Financial Holdings, Enphase Energy, United Therapeutics, ShockWave Medical and ChampionX
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For Immediate Release
Chicago, IL – December 16, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: LPL Financial Holdings Inc. (LPLA - Free Report) , Enphase Energy Inc. (ENPH - Free Report) , United Therapeutics Corp. (UTHR - Free Report) , ShockWave Medical Inc. (SWAV - Free Report) and ChampionX Corp. (CHX - Free Report) .
Here are highlights from Thursday’s Analyst Blog:
5 Non-Tech Nasdaq Winners of 2022 with More Upside Left
Wall Street has seen a broad-based decline in 2022 with the technology sector suffering the most. The technology sector, which enabled Wall Street to get rid of the coronavirus-induced short bear market and formed the new bull market, has suffered since the beginning of this year as most market participants were extremely concerned about the sector’s overvaluation in the last two years.
Consequently, the tech-heavy Nasdaq Composite has suffered the most as the index has plunged 28.6%. U.S. stock markets are likely to face hardships in 2023 as the Fed raised its terminal interest rate in this rate hike cycle to 5.1% in December from 4.6% in September.
This means that the central bank will hike interest rates by at least 75 basis points in 2023 from the 2022 range of 4.25-4.5%. No rate cut will take place before 2024. A large section of economists and financial experts are worried about a recession next year.
Consequently, the Nasdaq Composite may continue to bleed in 2023. However, we have identified five non-technology stocks from this stable that have popped in 2022 despite the index’s blood bath. Currently, these stocks carry a favorable Zacks Rank and have more upside left in 2023. These companies are:
LPL Financial Holdings Inc. has been benefiting from strategic acquisitions, including the buyout of Waddell & Reed's wealth management business. Solid advisor productivity and recruiting efforts are expected to keep aiding the advisory revenues of LPLA. Moreover, LPL Financial's efficient capital deployment activities reflect a solid balance sheet position.
LPL Financial has an expected earnings growth rate of 72.8% for next year. The Zacks Consensus Estimate for next-year earnings has improved 6.9% over the last 60 days. The stock price of LPLA has climbed 34% year to date. The stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Enphase Energy Inc. has revolutionized the solar industry by pioneering a semiconductor-based microinverter, which converts energy at the individual solar module level. ENPH enjoys a strong position as a leading U.S. manufacturer of microinverters.
Enphase Energy is striving to expand in Europe steadily throughout 2022. Such expansion plans may boost its long-term growth in the battery storage market. ENPH has also been making acquisitions to boost its long-term growth. It holds a strong solvency position.
Zacks Rank #2 (Buy) Enphase Energy has an expected earnings growth rate of 25.8% for next year. The Zacks Consensus Estimate for next-year earnings has improved 2.4% over the last 30 days. The stock price of ENPH has soared 81.9% year to date.
United Therapeutics Corp. is witnessing strong demand for treprostinil medicines, Remodulin, Tyvaso and Orenitram despite generic concerns and competitive pressure. UTHR’s newly-launched expanded indications for Orenitram and Tyvaso and pipeline can potentially drive long-term growth. United Therapeutics is progressing fast toward its goal of 6,000 patients on Tyvaso therapy by 2022.
UTHR also aims to expand Tyvaso in IPF indication as management believes that sales in PAH indication have reached their peak. United Therapeutics is engaged in R&D efforts to expand the supply of transplantable organs.
Zacks Rank #2 UTHR has an expected earnings growth rate of 12.5% for next year. The Zacks Consensus Estimate for next-year earnings has improved 0.1% over the last 30 days. The stock price of United Therapeutics has surged 28.1% year to date.
ShockWave Medical Inc. is optimistic about the sustained clinical acceptance and penetration of Intravascular Lithotripsy (IVL), as evident from its strong demand in the first nine months of 2022. The results were driven by the increasing adoption of coronary IVL in the United States. The introduction of Shockwave C2, in the United States, and higher adoption of Shockwave products, are major positives for SWAV.
Zacks Rank #2 SWAV has an expected earnings growth rate of 21.2% for next year. The Zacks Consensus Estimate for next-year earnings has improved 3.2% over the last 60 days. The stock price of ShockWave Medical has advanced 23.7% year to date.
ChampionX Corp. provides chemistry solutions and engineered equipment and technologies to companies that drill for and produce oil and gas. CHX’s Chemical Technologies offering consists of chemistry solutions for flowing oil and gas wells as well as chemistry solutions used in drilling and completion activities.
CHX’s Production & Automation Technologies offerings consist of artificial lift equipment and solutions. Drilling Technologies offering provides polycrystalline diamond cutters and bearings.
Zacks Rank #2 ChampionX has an expected earnings growth rate of 46.3% for next year. The Zacks Consensus Estimate for next-year earnings has improved 4.7% over the last 30 days. The stock price of CHX has jumped 39.3% year to date.
Why Haven’t You Looked at Zacks' Top Stocks?
Our 5 best-performing strategies have blown away the S&P's impressive +28.8% gain in 2021. Amazingly, they soared +40.3%, +48.2%, +67.6%, +94.4%, and +95.3%. Today you can access their live picks without cost or obligation.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights LPL Financial Holdings, Enphase Energy, United Therapeutics, ShockWave Medical and ChampionX
For Immediate Release
Chicago, IL – December 16, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: LPL Financial Holdings Inc. (LPLA - Free Report) , Enphase Energy Inc. (ENPH - Free Report) , United Therapeutics Corp. (UTHR - Free Report) , ShockWave Medical Inc. (SWAV - Free Report) and ChampionX Corp. (CHX - Free Report) .
Here are highlights from Thursday’s Analyst Blog:
5 Non-Tech Nasdaq Winners of 2022 with More Upside Left
Wall Street has seen a broad-based decline in 2022 with the technology sector suffering the most. The technology sector, which enabled Wall Street to get rid of the coronavirus-induced short bear market and formed the new bull market, has suffered since the beginning of this year as most market participants were extremely concerned about the sector’s overvaluation in the last two years.
Consequently, the tech-heavy Nasdaq Composite has suffered the most as the index has plunged 28.6%. U.S. stock markets are likely to face hardships in 2023 as the Fed raised its terminal interest rate in this rate hike cycle to 5.1% in December from 4.6% in September.
This means that the central bank will hike interest rates by at least 75 basis points in 2023 from the 2022 range of 4.25-4.5%. No rate cut will take place before 2024. A large section of economists and financial experts are worried about a recession next year.
Consequently, the Nasdaq Composite may continue to bleed in 2023. However, we have identified five non-technology stocks from this stable that have popped in 2022 despite the index’s blood bath. Currently, these stocks carry a favorable Zacks Rank and have more upside left in 2023. These companies are:
LPL Financial Holdings Inc. has been benefiting from strategic acquisitions, including the buyout of Waddell & Reed's wealth management business. Solid advisor productivity and recruiting efforts are expected to keep aiding the advisory revenues of LPLA. Moreover, LPL Financial's efficient capital deployment activities reflect a solid balance sheet position.
LPL Financial has an expected earnings growth rate of 72.8% for next year. The Zacks Consensus Estimate for next-year earnings has improved 6.9% over the last 60 days. The stock price of LPLA has climbed 34% year to date. The stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Enphase Energy Inc. has revolutionized the solar industry by pioneering a semiconductor-based microinverter, which converts energy at the individual solar module level. ENPH enjoys a strong position as a leading U.S. manufacturer of microinverters.
Enphase Energy is striving to expand in Europe steadily throughout 2022. Such expansion plans may boost its long-term growth in the battery storage market. ENPH has also been making acquisitions to boost its long-term growth. It holds a strong solvency position.
Zacks Rank #2 (Buy) Enphase Energy has an expected earnings growth rate of 25.8% for next year. The Zacks Consensus Estimate for next-year earnings has improved 2.4% over the last 30 days. The stock price of ENPH has soared 81.9% year to date.
United Therapeutics Corp. is witnessing strong demand for treprostinil medicines, Remodulin, Tyvaso and Orenitram despite generic concerns and competitive pressure. UTHR’s newly-launched expanded indications for Orenitram and Tyvaso and pipeline can potentially drive long-term growth. United Therapeutics is progressing fast toward its goal of 6,000 patients on Tyvaso therapy by 2022.
UTHR also aims to expand Tyvaso in IPF indication as management believes that sales in PAH indication have reached their peak. United Therapeutics is engaged in R&D efforts to expand the supply of transplantable organs.
Zacks Rank #2 UTHR has an expected earnings growth rate of 12.5% for next year. The Zacks Consensus Estimate for next-year earnings has improved 0.1% over the last 30 days. The stock price of United Therapeutics has surged 28.1% year to date.
ShockWave Medical Inc. is optimistic about the sustained clinical acceptance and penetration of Intravascular Lithotripsy (IVL), as evident from its strong demand in the first nine months of 2022. The results were driven by the increasing adoption of coronary IVL in the United States. The introduction of Shockwave C2, in the United States, and higher adoption of Shockwave products, are major positives for SWAV.
Zacks Rank #2 SWAV has an expected earnings growth rate of 21.2% for next year. The Zacks Consensus Estimate for next-year earnings has improved 3.2% over the last 60 days. The stock price of ShockWave Medical has advanced 23.7% year to date.
ChampionX Corp. provides chemistry solutions and engineered equipment and technologies to companies that drill for and produce oil and gas. CHX’s Chemical Technologies offering consists of chemistry solutions for flowing oil and gas wells as well as chemistry solutions used in drilling and completion activities.
CHX’s Production & Automation Technologies offerings consist of artificial lift equipment and solutions. Drilling Technologies offering provides polycrystalline diamond cutters and bearings.
Zacks Rank #2 ChampionX has an expected earnings growth rate of 46.3% for next year. The Zacks Consensus Estimate for next-year earnings has improved 4.7% over the last 30 days. The stock price of CHX has jumped 39.3% year to date.
Why Haven’t You Looked at Zacks' Top Stocks?
Our 5 best-performing strategies have blown away the S&P's impressive +28.8% gain in 2021. Amazingly, they soared +40.3%, +48.2%, +67.6%, +94.4%, and +95.3%. Today you can access their live picks without cost or obligation.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.