For Immediate Release
Chicago, IL – June 2, 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: NVIDIA Corp. (
NVDA Quick Quote NVDA - Free Report) , Bristol-Myers Squibb Co. ( BMY Quick Quote BMY - Free Report) , ICICI Bank Ltd. ( IBN Quick Quote IBN - Free Report) , Palo Alto Networks, Inc. ( PANW Quick Quote PANW - Free Report) and Walgreens Boots Alliance, Inc. ( WBA Quick Quote WBA - Free Report) . Here are highlights from Thursday’s Analyst Blog: Top Analyst Reports for NVIDIA, Bristol-Myers and ICICI
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 NVIDIA Corp., Bristol-Myers Squibb Co. and ICICI Bank Ltd. 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 NVIDIA have outperformed the Zacks Semiconductor - General industry over the past year (+97.4% vs. +45.9%). The company is gaining from strong growth of artificial intelligence (AI), high-performance computing and accelerated computing, which is boosting its Compute & Networking revenues. A surge in Hyperscale demand and a solid uptake of artificial intelligence-based smart cockpit infotainment solutions are acting as tailwinds. Collaboration with Mercedes-Benz and Audi is likely to advance its presence in autonomous vehicles and other automotive electronics space. However, NVDA’s near-term prospects look challenging due to weakening demand for chips used in gaming and professional visualization end-markets. While macroeconomic headwinds are impacting gaming and professional visualization chip demand, higher channel inventory levels are hurting chip prices. (You can ) read the full research report on NVIDIA here >>> Bristol-Myers Squibb’s shares have underperformed the Zacks Medical - Biomedical and Genetics industry over the year-to-date period (-9.5% vs. -8.9%). The company missed on sales, which declined year over year due to continued generic competition for Revlimid. Nevertheless, the label expansion of Opdivo for first-line lung cancer, bladder cancer and gastric cancer continues to boost sales. Solid demand for the blood thinner drug Eliquis in the U.S. maintains momentum. The recent approval of drugs like Opdualag, Breyanzi and Sotyktu adds a new stream of revenues. Pipeline progress has been impressive and strategic collaborations will further expand the portfolio. However, generic competition for Eliquis outside the U.S. is another headwind, along with Revlimid. (You can ) read the full research report on Bristol-Myers Squibb here >>> Shares of ICICI Bank have outperformed the Zacks Banks - Foreign industry over the past year (+16.9% vs. -1.7%). The company’s fourth-quarter fiscal 2023 (ended Mar 31) results reflected higher revenues on solid loan demand and rising rates, while an increase in provisions and expenses acted as headwinds. Increased dependence on domestic loans, a rise in retail loan demand, higher interest rates and a stable funding base are expected to keep aiding the company's financials. Efforts of digitizing banking operations will help generate non-interest income, thereby supporting revenue growth. Yet, weak asset quality poses a major near-term headwind. Macroeconomic concerns, including rising inflation across the globe, make us apprehensive. Elevated operating expenses, mainly due to technology investments and ongoing branch expansion initiatives, will likely hurt the bottom-line growth. (You can ) read the full research report on ICICI Bank here >>> Other noteworthy reports we are featuring today include Palo Alto Networks, Inc. and Walgreens Boots Alliance, Inc. Why Haven’t You Looked at Zacks' Top Stocks?
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