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The Zacks Analyst Blog Highlights JPMorgan Chase, ServiceNow, American Express, Airbnb and 3M Company
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For Immediate Release
Chicago, IL – September 7, 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: JPMorgan Chase & Co. (JPM - Free Report) , ServiceNow, Inc. (NOW - Free Report) , American Express Co. (AXP - Free Report) , Airbnb, Inc. (ABNB - Free Report) and 3M Company (MMM - Free Report) .
Here are highlights from Wednesday’s Analyst Blog:
Top Stocks for JP Morgan, ServiceNow and AmEx
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 JPMorgan Chase & Co., ServiceNow, Inc. and American Express Co. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
Shares of JPMorgan Chase have outperformed the Zacks Banks - Major Regional industry over the year-to-date period (+10.7% vs. -3.8%). High interest rates, buyouts, global expansion efforts and a decent loan demand will aid net interest income (NII), while rising funding costs will weigh on it to an extent.
With green shoots visible in the investment banking (IB) business, IB fees are likely to witness a reversal next year. Yet, the volatile nature of the capital markets business and high mortgage rates are likely to make fee income growth tough.
Nonetheless, aided by solid earnings strength and balance sheet position, the company will be able to sustain enhanced capital distributions.
ServiceNow's shares have outperformed the Zacks Computers - IT Services industry over the year-to-date period (+53.8% vs. +22.9%). The company has been benefiting from the rising adoption of its workflows by enterprises undergoing digital transformation.
ServiceNow had 1724 total customers with more than $1 million in annual contract value at the end of the second quarter. ServiceNow's expanding global presence, solid partner base and strategic buyouts are positives. New solutions — Automated service suggestions, Service Request Playbook and Workplace Scenario Planning — are helping it win new customers.
Expanding the portfolio with new generative AI solutions is expected to drive top-line growth. Strategic alliances with the likes of Microsoft remain tailwinds. However, ServiceNow is suffering from high inflation, unfavorable forex, stiff competition, and a challenging macro-economic environment.
Shares of American Express have outperformed the Zacks Financial - Miscellaneous Services industry over the year-to-date period (+9.5% vs. +7.9%). The company's several growth initiatives, such as launching new products, reaching new agreements and forging alliances, are boosting its revenues.
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 prudent deployment of capital.
However, with higher utilization of the firm's cards, expense in the form of card member services and card member rewards is likely to go up and strain the margins. Marketing and business development expenses are expected to rise. A high debt burden induces a rise in interest expenses. As such, the stock warrants a cautious stance.
Other noteworthy reports we are featuring today include Airbnb, Inc. and 3M Company.
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 JPMorgan Chase, ServiceNow, American Express, Airbnb and 3M Company
For Immediate Release
Chicago, IL – September 7, 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: JPMorgan Chase & Co. (JPM - Free Report) , ServiceNow, Inc. (NOW - Free Report) , American Express Co. (AXP - Free Report) , Airbnb, Inc. (ABNB - Free Report) and 3M Company (MMM - Free Report) .
Here are highlights from Wednesday’s Analyst Blog:
Top Stocks for JP Morgan, ServiceNow and AmEx
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 JPMorgan Chase & Co., ServiceNow, Inc. and American Express 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 JPMorgan Chase have outperformed the Zacks Banks - Major Regional industry over the year-to-date period (+10.7% vs. -3.8%). High interest rates, buyouts, global expansion efforts and a decent loan demand will aid net interest income (NII), while rising funding costs will weigh on it to an extent.
With green shoots visible in the investment banking (IB) business, IB fees are likely to witness a reversal next year. Yet, the volatile nature of the capital markets business and high mortgage rates are likely to make fee income growth tough.
Nonetheless, aided by solid earnings strength and balance sheet position, the company will be able to sustain enhanced capital distributions.
(You can read the full research report on JPMorgan Chase here >>>)
ServiceNow's shares have outperformed the Zacks Computers - IT Services industry over the year-to-date period (+53.8% vs. +22.9%). The company has been benefiting from the rising adoption of its workflows by enterprises undergoing digital transformation.
ServiceNow had 1724 total customers with more than $1 million in annual contract value at the end of the second quarter. ServiceNow's expanding global presence, solid partner base and strategic buyouts are positives. New solutions — Automated service suggestions, Service Request Playbook and Workplace Scenario Planning — are helping it win new customers.
Expanding the portfolio with new generative AI solutions is expected to drive top-line growth. Strategic alliances with the likes of Microsoft remain tailwinds. However, ServiceNow is suffering from high inflation, unfavorable forex, stiff competition, and a challenging macro-economic environment.
(You can read the full research report on ServiceNow here >>>)
Shares of American Express have outperformed the Zacks Financial - Miscellaneous Services industry over the year-to-date period (+9.5% vs. +7.9%). The company's several growth initiatives, such as launching new products, reaching new agreements and forging alliances, are boosting its revenues.
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 prudent deployment of capital.
However, with higher utilization of the firm's cards, expense in the form of card member services and card member rewards is likely to go up and strain the margins. Marketing and business development expenses are expected to rise. A high debt burden induces a rise in interest expenses. As such, the stock warrants a cautious stance.
(You can read the full research report on American Express here >>>)
Other noteworthy reports we are featuring today include Airbnb, Inc. and 3M Company.
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.