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The Zacks Analyst Blog Highlights Novo Nordisk, Home Depot, Disney, AbbVie and Automatic Data Processing

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For Immediate Release

Chicago, IL – June 28, 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: Novo Nordisk A/S (NVO - Free Report) , The Home Depot, Inc. (HD - Free Report) , The Walt Disney Co. (DIS - Free Report) , AbbVie Inc. (ABBV - Free Report) and Automatic Data Processing, Inc. (ADP - Free Report) .

Here are highlights from Tuesday’s Analyst Blog:

Top Stock Reports for Novo Nordisk, Home Depot and Walt Disney

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 Novo Nordisk A/S, The Home Depot, Inc. and The Walt Disney Co. 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 Novo Nordisk have outperformed the Zacks Large Cap Pharmaceuticals industry over the past year (+40.6% vs. +8.9%). The company has one of the broadest diabetes portfolios in the industry. Ozempic and Rybelsus have been performing well in the market. Saxenda and Wegovy sales have been gaining and maintaining momentum.

Label expansion of the diabetes drugs is likely to further boost sales. Novo resolved the supply issues with Wegovy, which led to a sales increase in the first quarter of 2023, consequently raising its full-year guidance. The company’s diversifying efforts to develop new treatments are reassuring.

However, Pfizer’s successful study on its oral type II diabetes candidate, danuglipron, is alarming. If approved, Pfizer is likely to eat away from Novo Nordisk’s Diabetes care market share. Patent expiry and pricing pressure across the diabetes market also remain a woe.

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

Home Depot shares have gained +17.0% over the past year against the Zacks Building Products - Retail industry’s gain of +24.2%. The company has been witnessing significant benefits from the execution of the “One Home Depot” investment plan, which focuses on expanding supply chain facilities, technology investments and enhancement to the digital experience.

The interconnected retail strategy and underlying technology infrastructure have helped consistently boost web traffic for the past few quarters. The company remains on track with its strategic investments to build a Pro ecosystem.

However, shares of Home Depot lagged the industry year to date on dismal performance in first-quarter fiscal 2023. Results were impacted by a more broad-based pressure across the business, driven by softened demand versus expectations. A deflation in lumber prices and unfavorable weather have also hurt the results. HD also provided a conservative view for fiscal 2023.

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

Shares of Walt Disney have gained +5.4% over the past six months against the Zacks Media Conglomerates industry’s gain of +6.5%. The company is benefiting from the growing popularity of Disney+ core, owing to a strong content portfolio and a cheaper bundle offering.

Strong line-up of movies that include The Little Mermaid; Indiana Jones and the Dial of Destiny; Haunted Mansion, Poor Things and The Creator bodes well for the Media and Entertainment Distribution segment. Revival in Parks, Experiences and Products businesses is encouraging.

Theme Park business is likely to gain from strong demand across both the domestic and international parks. However, Disney+’s profitability continues to be negatively impacted by higher programming and production costs across Disney+, ESPN+ and Hulu. Disney’s leveraged balance sheet remains a concern.

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

Other noteworthy reports we are featuring today include AbbVie Inc. and Automatic Data Processing, Inc.

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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.

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