Top Analyst Reports For Apple, Procter & Gamble, And Celgene
Zacks Investment Research | Jun 16, 2017 01:08AM ET
Friday June 16 2017
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 Apple (AAPL), Procter & Gamble (PG), and Celgene (CELG).These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
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Apple shares are up +24.1% in the year-to-date period, handily outperforming the S&P 500 (up +9%) and the Zacks Technology sector (up +14.2%), with each of the last two earnings releases adding to the stock’s momentum. In the updated research report issued today, the Zacks analyst points out that Apple’s fortunes are tied to its flagship offering, the iPhone, at least in the near term. The buzz surrounding iPhone 8, which is already labeled a super cycle, should allay investors fear about iPhone sales trajectory. Also, the company announced an increase in the share repurchase authorization by $50 billion, taking total authorization to $300 million. Apple raised its quarterly dividend by 10.5%. However, macroeconomic headwinds in some key regions like China and increasing competition remain concerns.
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Shares of Procter & Gamble outperformed the Zacks Consumer Staples sector in the past year (+7.7% vs. +5.9%). However, P&G shares have underperformed the S&P 500 index in the year-to-date period (up +6.5% vs. +9%). The company has been struggling to boost market growth for the last few quarters. Also, significant negative forex impact has been hurting sales. But the Zacks analyst likes the fact that P&G is speeding up innovations and investments to counter softening industry growth. Its productivity improvements and aggressive cost-saving efforts are also consistently helping to boost profit levels.
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Celgene’s shares have gained +4.6% year to date, outperforming the Zacks Medical - Biomedical and Genetics sector which has gained +2.5% over the same period. Celgene’s multiple myeloma drug Revlimid continues to grow on the back of market share gains and increased duration. However, Otezla sales in the first quarter were impacted by managed care dynamics that drove lower total marketplace prescriptions for psoriasis therapies. The Zacks analyst likes Celgene’s ongoing label expansion efforts and pipeline development. The company anticipates several pipeline-related events over the upcoming quarters and next few years.
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Other noteworthy reports we are featuring today include BlackRock (BLK), PayPal (PYPL) and Southern Company (NYSE:SO).
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Sheraz Mian
Director of Research
Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly
Today's Must Read/h6
Featured Reports/h6
Per the Zacks analyst, higher average fee rate will boost ONEOK Partners' top line growth in coming days. Yet, weather fluctuations in its service territories tend to hamper growth.
Per the Zacks analyst, growth in AUM continues to support BlackRock's revenues. However, higher compensation and marketing costs owing to its brand campaign is likely to keep overall expenses high.
The covering analyst believes that strategic partnerships and mobile centrism are PayPal's major growth drivers.
Per the Zacks analyst, impressive loan and deposit growth, improving economy and higher interest rates should continue to support BB&T's revenues.
Per the covering analyst, H&R Block remains focused on lowering operating costs through stringent cost-cutting initiatives to drive bottom-line growth, as exhibited by its solid Q4 performance.
The Zacks analyst believes that the Linear Technology acquisition coupled with solid positioning in growth markets drive Analog Device's growth.
Per the Zacks analyst the buyout of Marketwired, a broad product suite, focus on Nasdaq Private Market Alternatives & the Nasdaq Ventures will drive long term growth.
Per the Zacks analyst, higher average fee rate will boost ONEOK Partners' top line growth in coming days. Yet, weather fluctuations in its service territories tend to hamper growth.
Per the Zacks analyst, growth in AUM continues to support BlackRock's revenues. However, higher compensation and marketing costs owing to its brand campaign is likely to keep overall expenses high.
The covering analyst believes that strategic partnerships and mobile centrism are PayPal's major growth drivers.
Per the Zacks analyst, impressive loan and deposit growth, improving economy and higher interest rates should continue to support BB&T's revenues.
Per the covering analyst, H&R Block remains focused on lowering operating costs through stringent cost-cutting initiatives to drive bottom-line growth, as exhibited by its solid Q4 performance.
The Zacks analyst believes that the Linear Technology acquisition coupled with solid positioning in growth markets drive Analog Device's growth.
Per the Zacks analyst the buyout of Marketwired, a broad product suite, focus on Nasdaq Private Market Alternatives & the Nasdaq Ventures will drive long term growth.
New Upgrades/h6
Per the Zacks analyst, the recently settled Minnesota Multiyear Rate Plan will benefit Xcel Energy's growth. The lower effective tax rate also boosts its bottom line.
The covering analyst appreciates Armstrong World's bid to tap the high-growth category of architectural specialties with Tectum buy. Further, it will also gain from recent major project wins.
Per the Zacks analyst, Republic Services is realigning its field support functions to ensure a clear ownership for the recycling and processing market vertical and save $25 million annually from 2018.
Per the Zacks analyst, the recently settled Minnesota Multiyear Rate Plan will benefit Xcel Energy's growth. The lower effective tax rate also boosts its bottom line.
The covering analyst appreciates Armstrong World's bid to tap the high-growth category of architectural specialties with Tectum buy. Further, it will also gain from recent major project wins.
Per the Zacks analyst, Republic Services is realigning its field support functions to ensure a clear ownership for the recycling and processing market vertical and save $25 million annually from 2018.
New Downgrades/h6
Per the Zacks analyst, Entergy's residential and commercial sales have been lower than expectations and now an even lower growth rate is expected, leading to lower earnings projection in 2017 and 2018
The covering analyst believes that continued timing and cost overrun issues over two large construction projects - Vogtle and Kemper - will cause an underperformance in Southern Company's shares.
Per the Zacks analyst, declining comps, waning store traffic and meal-kit delivery services are hurting Kroger's results. Further, the analyst also remains concerned about the high debt load.
Per the Zacks analyst, Entergy's residential and commercial sales have been lower than expectations and now an even lower growth rate is expected, leading to lower earnings projection in 2017 and 2018
The covering analyst believes that continued timing and cost overrun issues over two large construction projects - Vogtle and Kemper - will cause an underperformance in Southern Company's shares.
Per the Zacks analyst, declining comps, waning store traffic and meal-kit delivery services are hurting Kroger's results. Further, the analyst also remains concerned about the high debt load.
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