Zacks Analyst Blog Highlights Visa, Abbott Laboratories, Salesforce, Wells Fargo and Centene
For immediate release
Chicago, IL – July 25, 2022 – Zacks.com announces the list of stocks featured in the analyst blog. Every day, Zacks Equity Research analysts discuss the latest news and events impacting stocks and financial markets. Stocks recently featured in the blog include: Visa Inc. V, Abbott Laboratories ABT, Salesforce, Inc. CRM, Wells Fargo & Co. WFC, and Centene Corp. CNC.
Here are highlights from Friday’s analyst blog:
Top research reports for Visa, Abbott and Salesforce
Zacks Research Daily features the best research results from our team of analysts. Today’s Research Daily features new research reports on 16 major stocks, including Visa Inc., Abbott Laboratories and Salesforce, Inc. These research reports have been handpicked from the approximately 70 reports published by our team of analysts today.
Visa stocks are down -2% year-to-date, outperforming the -5.2% decline in Mastercard and the -22.7% decline in the S&P 500 Index. The company’s favorable long-term growth prospects, which reflect a combination of attractive buyouts and alliances and investments in technology.
A transition of payments to digital mode is a godsend. Deployments of coronavirus vaccines and the gradual upturn in consumer confidence will continue to drive spending, in turn increasing business volumes. With its strong cash position, it remains committed to increasing its shareholder value. The strength of its balance sheet is commendable.
However, high operating costs weigh on margins. Increasing customer incentives will affect turnover. Its declining liquidity volume from Asia-Pacific is disturbing. Its volumes will probably suffer from the Russian-Ukrainian situation.
Abbott stocks are down -10.1% over the past year against the -17.5% drop in the Zacks Medical sector and the -16.9% decline in the S&P 500 index.
As Abbott faces the negative repercussions of a voluntary recall of certain powder formulas produced at one of its US plants, it remains well positioned for robust organic sales growth in key operating segments except nutrition.
The Diabetes Care business should continue to benefit from the growth in sales of the sensor-based continuous glucose monitoring system, FreeStyle Libre. The zacks analyst is particularly optimistic that the company’s FreeStyle Libre 3 system will receive FDA clearance in May 2022. Over the past year,
Selling power Stocks have had a nice rebound in recent days, but the stock is still down -28.5% year-to-date compared to -38.8% for the Zacks Tech sector and -22.7% for the S&P 500 Index. The biggest worry weighing on the stock is uncertainty over technology spending which remains a headwind for the entire software group in the current uncertain macro environment. Adverse currency movements and increased investment in international expansions and data centers are also weighing on short-term profitability.
However, the business is benefiting from a robust demand environment as customers undergo a major digital transformation. Rapid adoption of its cloud-based solutions is driving demand for its products. Salesforce’s continued focus on introducing products more aligned with customer needs is driving its revenue.
The continuation of agreements won on the international market is another engine of growth. Additionally, the recent acquisition of Slack would position the company as a leader in enterprise team collaboration solutions and could better compete with Microsoft’s Teams product.
Other noteworthy reports we’re featuring today include Wells Fargo & Co. and Centene Corp.
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Past performance is not indicative of future results. The potential for loss is inherent in any investment. This document is provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold any security. No recommendation or advice is given as to whether any investment is suitable for any particular investor. It should not be assumed that investments in the securities, companies, sectors or markets identified and described have been or will be profitable. All information is current as of the date hereof and is subject to change without notice. The views or opinions expressed may not reflect those of the company as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management of securities. These returns come from hypothetical portfolios composed of stocks with Zacks Rank = 1 that have been rebalanced monthly without transaction fees. These are not the returns of actual stock portfolios. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for more information on the performance figures displayed in this press release.
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