Top Stock Reports for NextEra, Raytheon & Bristol-Myers

The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 12 major stocks, including NextEra Energy (NYSE:NEE), Inc. (NEE), Raytheon Technologies (NYSE:RTX) Corp. (RTX), and Bristol-Myers Squibb (NYSE:BMY) Co. (BMY). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.

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Shares of NextEra have outperformed the Zacks Electric Power industry in the year to date period (+5.5% vs. +2.2%). The Zacks analyst believes that a well-chalked capital investment plan, natural gas pipeline projects, robust renewable backlog, addition of renewable generation assets, and adequate liquidity bode well for the long term.

The company currently has a lot of renewable projects in its backlog. The company has ample liquidity to meet current debt obligations. Strict regulations, inherent risk related to operating nuclear generation facilities and unfavorable supply costs are some of the major headwinds for the company though.

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Raytheon (NYSE:RTN) shares have gained +53.7% over the past year against the Zacks Defense Equipment industry’s gain of +39.9%. The Zacks analyst believes that merger related synergies and solid order growth are likely to aid the company’s revenues going forward.

It continues to receive ample orders from the Pentagon due to a wide range of combat-proven defense products that it offers. The company continues to see growth trends in its military section. Impact of the ongoing pandemic has been weighing on commercial aerospace. A dismal outlook in the near term remain is another major concern for the company.

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Shares of Bristol-Myers have lost -7.2% over the past six months against the Zacks Biomedical and Genetics industry’s loss of -4.4%, however, things seem to be improving for the company. The Zacks analyst believes that strong sales of drugs like Opdivo, Revlimid and Eliquis are likely to continue driving the top line.

The label expansion of Opdivo into indications of lung cancer and gastric cancer should propel its sales and offset the decline from recent setbacks. The approval of new drugs has added a new stream of revenues, which should lead to incremental revenue growth ahead. The company, however, has been facing stiff competition in the immuno-oncology space. Pipeline setbacks are an added concern.

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Other noteworthy reports we are featuring today include Petrobras (PBR), The Williams Companies (NYSE:WMB), Inc. (WMB) and Occidental Petroleum Corp. (OXY).

Mark Vickery
Senior Editor

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

Tech IPOs With Massive Profit Potential

In the past few years, many popular platforms and like Uber (NYSE:UBER) and Airbnb finally made their way to the public markets. But the biggest paydays came from lesser-known names.

For example, electric carmaker X Peng shot up +299.4% in just 2 months. Think of it this way…

If you had put $5,000 into XPEV at its IPO in September 2020, you could have cashed out with $19,970 in November.

With record amounts of cash flooding into IPOs and a record-setting stock market, this year’s lineup could be even more lucrative.

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Written By: Zacks Investment Research