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The Zacks Analyst Blog Highlights American Express, Enbridge, Micron Technology, Old Dominion Freight Line and Nordson
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For Immediate Release
Chicago, IL – May 1, 2023 – 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: American Express Co. (AXP - Free Report) , Enbridge Inc. (ENB - Free Report) , Micron Technology, Inc. (MU - Free Report) , Old Dominion Freight Line, Inc. (ODFL - Free Report) and Nordson Corp. (NDSN - Free Report) .
Here are highlights from Friday’s Analyst Blog:
Top Research Reports for American Express, Enbridge and Micron
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 American Express Co., Enbridge Inc. and Micron Technology, Inc. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
Shares of American Express have outperformed the Zacks Financial - Miscellaneous Services industry over the past six months (+7.6% vs. -2.5%). The company has adopted several growth initiatives, such as launching new products, reaching new agreements and forging alliances, boosting its revenues. We expect the top line at $60.8 billion in 2023.
Consumer spending on T&E, which carry higher margins for AmEx, is advancing well. Its balance sheet looks strong with manageable debt. Solid cash-generation abilities enable the pursuit of business investments and capital deployment.
However, with higher utilization of the company’s cards, expenses in the form of card member services and card member rewards are likely to strain the margins. Also, marketing and business development expenses are expected to rise. As such, the stock warrants a cautious stance.
Enbridge’s shares have outperformed the Zacks Oil and Gas - Production and Pipelines industry over the past six months (+4.3% vs. +4.1%). The company has the longest and most sophisticated oil and liquids pipeline system in the world, which spreads across 17,809 miles. Hence, a significant portion of the midstream operator’s earnings is generated from transportation operations, driven by a string of long-term contracts.
ENB sanctioned C$8 billion of organic growth projects in 2022, bringing its total backlog to C$17 billion. The firm expects to put more than C$10 billion growth projects into service in 2024 and beyond. This is expected to generate significant EBITDA growth in the coming years.
However, ENB’s significant debt exposure is concerning. ENB reported weak fourth-quarter results due to lower contributions from the Renewable Power Generation segment. Also, it has mostly been yielding lower dividends than the industry. As such, the stock warrants a cautious stance.
Shares of Micron Technology have outperformed the Zacks Semiconductor Memory industry over the past six months (+17.0% vs. +14.9%). The company is witnessing growing demand for memory chips from cloud-computing providers and acceleration in 5G (fifth-generation) cellular network adoptions.
Rising mix of high-value solutions, 5G adoption in Internet of Things devices and wireless infrastructure, enhancement in customer engagement and improvement in cost structure are growth drivers.
Nonetheless, Micron near-term prospects look gloomy as weakening consumer spending is negatively impacting demand for memory chips used in personal computers (PCs) and smartphones. Bit shipments for the DRAM and NAND memory chips may decline in the near-term as PC makers are adjusting their inventory due to weakened demand.
Other noteworthy reports we are featuring today include Old Dominion Freight Line, Inc. and Nordson Corp.
Why Haven’t You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. 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 American Express, Enbridge, Micron Technology, Old Dominion Freight Line and Nordson
For Immediate Release
Chicago, IL – May 1, 2023 – 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: American Express Co. (AXP - Free Report) , Enbridge Inc. (ENB - Free Report) , Micron Technology, Inc. (MU - Free Report) , Old Dominion Freight Line, Inc. (ODFL - Free Report) and Nordson Corp. (NDSN - Free Report) .
Here are highlights from Friday’s Analyst Blog:
Top Research Reports for American Express, Enbridge and Micron
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 American Express Co., Enbridge Inc. and Micron Technology, Inc. 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 American Express have outperformed the Zacks Financial - Miscellaneous Services industry over the past six months (+7.6% vs. -2.5%). The company has adopted several growth initiatives, such as launching new products, reaching new agreements and forging alliances, boosting its revenues. We expect the top line at $60.8 billion in 2023.
Consumer spending on T&E, which carry higher margins for AmEx, is advancing well. Its balance sheet looks strong with manageable debt. Solid cash-generation abilities enable the pursuit of business investments and capital deployment.
However, with higher utilization of the company’s cards, expenses in the form of card member services and card member rewards are likely to strain the margins. Also, marketing and business development expenses are expected to rise. As such, the stock warrants a cautious stance.
(You can read the full research report on American Express here >>>)
Enbridge’s shares have outperformed the Zacks Oil and Gas - Production and Pipelines industry over the past six months (+4.3% vs. +4.1%). The company has the longest and most sophisticated oil and liquids pipeline system in the world, which spreads across 17,809 miles. Hence, a significant portion of the midstream operator’s earnings is generated from transportation operations, driven by a string of long-term contracts.
ENB sanctioned C$8 billion of organic growth projects in 2022, bringing its total backlog to C$17 billion. The firm expects to put more than C$10 billion growth projects into service in 2024 and beyond. This is expected to generate significant EBITDA growth in the coming years.
However, ENB’s significant debt exposure is concerning. ENB reported weak fourth-quarter results due to lower contributions from the Renewable Power Generation segment. Also, it has mostly been yielding lower dividends than the industry. As such, the stock warrants a cautious stance.
(You can read the full research report on Enbridge here >>>)
Shares of Micron Technology have outperformed the Zacks Semiconductor Memory industry over the past six months (+17.0% vs. +14.9%). The company is witnessing growing demand for memory chips from cloud-computing providers and acceleration in 5G (fifth-generation) cellular network adoptions.
Rising mix of high-value solutions, 5G adoption in Internet of Things devices and wireless infrastructure, enhancement in customer engagement and improvement in cost structure are growth drivers.
Nonetheless, Micron near-term prospects look gloomy as weakening consumer spending is negatively impacting demand for memory chips used in personal computers (PCs) and smartphones. Bit shipments for the DRAM and NAND memory chips may decline in the near-term as PC makers are adjusting their inventory due to weakened demand.
(You can read the full research report on Micron Technology here >>>)
Other noteworthy reports we are featuring today include Old Dominion Freight Line, Inc. and Nordson Corp.
Why Haven’t You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
See Stocks Free >>
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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.