Friday, November 5, 2021
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 Tesla, Inc. (TSLA), Comcast (CMCSA), and AbbVie Inc. (ABBV). 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
Tesla
have outperformed the Zacks Automotive – Domestic industry over the year-to-date period (+74.3% vs. +46.7%). The electric vehicle (EV) king hit a milestone in third-quarter 2021, with gross auto margins attaining a record high. The Zacks analyst believes that riding on robust Model 3/Y demand, Tesla achieved record Q3 production and deliveries despite chip crunch. The company has also started making progress at ramping up volumes of Models S and X.
With China being the biggest EV market, Tesla’s Shanghai factory is buoying the company’s revenue prospects. Also, production from Berlin and Texas gigafactories is expected to commence this year. In addition to increasing automotive revenues, Tesla’s energy generation and storage revenues are also boosting earnings prospects.
(You can
read the full research report on Tesla here >>>
)
Shares of
Comcast
have underperformed the Zacks Cable Television industry over the year-to-date period (+0.6% vs. +2.8%). The Zacks analyst believes that Comcast is benefiting from strength in broadband subscriber base and a strong momentum in wireless business besides advertising revenue growth as reflected by third-quarter 2021 results.
Its strategy to provide high-speed Internet at an affordable price plays a pivotal role in providing connectivity, improving customer wins and experience. Moreover, coronavirus-led increased media consumption, and the work-from-home and online-learning wave bode well for Comcast’s Internet business. However, Comcast persistently suffers from video-subscriber attrition due to cord cutting. Moreover, a leveraged balance sheet is a major concern.
(You can
read the full research report on Comcast here >>>
)
Shares of
AbbVie
have underperformed the Zacks Large Cap Pharmaceuticals industry over the year-to-date period (+9.3% vs. +17.3%). Nonetheless, AbbVie beat estimates for Q3 earnings while missing for sales. The Zacks analyst believes that AbbVie has been successful in expanding the labels of its cancer drugs, Imbruvica and Venclexta. It has several new drugs in its portfolio, which have the potential to drive revenues once Humira loses U.S. exclusivity in 2023. It has an impressive late-stage pipeline with several early/mid-stage candidates that have blockbuster potential.
However, the FDA’s order to include a heart-risk warning in the label of JAK inhibitor drug, Rinvoq may hurt the drug’s sales in the future quarters. There are concerns about long-term sales growth once Humira generics enter the U.S. market.
(You can
read the full research report on AbbVie here >>>
)
Other noteworthy reports we are featuring today include The Boeing Company (BA), China Petroleum & Chemical (SNP) and Advanced Micro Devices (AMD).
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
Earnings Trends
and
Earnings Preview
reports. If you want an email notification each time Sheraz publishes a new article, please
click here>>>
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