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The Zacks Analyst Blog Highlights Novartis, Amgen, Palo Alto, Brown & Brown and Ericsson

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For Immediate Release

Chicago, IL – January 25, 2024 – 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: Novartis AG (NVS - Free Report) , Amgen Inc. (AMGN - Free Report) , Palo Alto Networks, Inc. (PANW - Free Report) , Brown & Brown, Inc. (BRO - Free Report) and Ericsson (ERIC - Free Report) .

Here are highlights from Wednesday’s Analyst Blog:

Top Research Reports for Novartis, Amgen and Palo Alto Networks

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 Novartis AG, Amgen Inc. and Palo Alto Networks, 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 Novartis have outperformed the Zacks Large Cap Pharmaceuticals industry over the past year (+26.0% vs. +19.8%). The company posted a solid performance in 2023. With the separation of Sandoz, it has become a pure-play pharmaceutical company.

Drugs like Entresto, Kesimpta, Zolgensma, Kisqali and Leqvio continue to fuel growth and offset the impact of generic competition. Pluvicto and Scemblix saw solid launches and the Leqvio launch continues to progress. The acquisition of Chinook Therapeutics has strengthened its renal pipeline.

However, generic competition for key drugs like Gilenya and pipeline setbacks remain concerns. The performance of Cosentyx in the United States was ordinary in 2023.

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

Amgen shares have outperformed the Zacks Medical - Biomedical and Genetics industry over the past year (+25.0% vs. -12.6%). The company expects strong sales growth of products like Tezspire, Evenity, Repatha, Prolia and Tavneos to be offset by lower revenues from oncology biosimilars and legacy established products such as Enbrel in the future quarters.

The addition of Horizon Therapeutics has given Amgen a significant rare disease business. Amgen also has some key pipeline assets in obesity and inflammation, which are indications that can have a large market opportunity. Several data readouts are expected in the next 12 months.

However, increased pricing headwinds and competitive pressure are hurting sales of many products, including some biosimilars. Weakness in some key brands like Otezla and Lumakras create potential revenue headwinds.

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

Shares of Palo Alto Networks have outperformed the Zacks Internet - Software industry over the past six months (+41.7% vs. +17.7%). The company has been benefiting from continuous deal wins and the increasing adoption of its next-generation security platforms, attributable to the rise in the hybrid work environment and the heightened need for stronger security.

PANW’s strong back-to-back quarterly performances reflect its sustained focus on product innovation, a shift in its business model to subscription-based services, platform integration and continued investments in the go-to-market strategy. The normalization of the supply chain is also aiding growth across the Products, Services and Subscription segments.

However, softening IT spending amid macroeconomic headwinds might hurt its near-term prospects. Forex headwinds and higher marketing and sales expenses are likely to continue hurting its profitability. Also, high acquisition-related expenses are denting margins.

(You can read the full research report on Palo Alto Networks here >>>)

Other noteworthy reports we are featuring today include Brown & Brown, Inc. and Ericsson.

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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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