The Zacks Analyst Blog Highlights: Oracle, Abbott Laboratories, Chevron, Sanofi and Boeing
For Immediate Release
Chicago, IL – July 13, 2020 – 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: Oracle ORCL, Abbott Laboratories ABT, Chevron CVX, Sanofi SNY and Boeing BA.
Here are highlights from Friday’s Analyst Blog:
Top Analyst Reports for Oracle, Abbott Labs and Chevron
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 Oracle, Abbott Laboratories and Chevron. 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 >>>
Oracle shares have underperformed the Zacks Computer Software industry over the past year (-4.1% vs. +36.1%), but the Zacks analyst sees a better long-term trajectory for the company given rapid adoption of data cloud solutions and Autonomous Database.
Strong uptake of cloud-based solutions, comprising NetSuite ERP, Fusion ERP and Fusion HCM, remains notable. Moreover, companies like 8x8 and Zoom Video Communications have selected Oracle Cloud Infrastructure services to address business needs, which is a testament to the strength of its cloud offerings. Solid demand for the Oracle Dedicated Region Cloud@Customer supported by ML is anticipated to drive the top line.
Although the company’s shares have underperformed in the past year, these factors are expected to help it grow in the rest of 2020. However, coronavirus crisis led business impacts remain an overhang on renewals and payments. Rise in spending on product enhancements amid stiff competition in the cloud market is anticipated to weigh on margins.
Shares of Abbott have gained +10.1% over the past six months against the Zacks Medical Products industry’s fall of -9.5%. The Zacks analyst believes that the branded generics and international diabetes businesses should drive growth in the coming quarters. New product launches and acquisitions should boost sales further.
Abbott registered strong and consistent performance within EPD and Medical Devices segments in the first quarter of 2020. It has been in news within Diabetic Care on growth with FreeStyle Libre. With the healthcare industry shifting its focus to control the coronavirus-led damage, Abbott has witnessed its molecular diagnostics and nutrition businesses putting up impressive performance during this period.
The company launched three back-to-back diagnostic tests for covid-19. Abbott put up a robust performance in the first quarter with better-than-expected earnings and revenue numbers. However, Abbott’s Core Laboratory Diagnostics, cardiovascular and neuromodulation sales were significantly down in the reported quarter affected by lower demand in the past few months.
Chevron shares have lost -2.5% over the past three months against the Zacks Integrated Oil industry’s fall of -7.1%. The Zacks analyst believes that the supermajor’s reserve replacement ratio of 44% is indicative of its inability to add proved reserves to its reserve base to the amount of oil and gas produced.
The company's worldwide production averaged a record 3,058 MBOE/d in 2019, reflecting an increase of 4.4% thanks to expansion in the lucrative Permian Basin. Chevron’s well economics in the play also continues to improve as the company has been able to achieve a 40% reduction in its development and production costs since 2015.
However, Chevron is not immune to this historic oil price crash, forcing it to cut capex and suspend buybacks. The company’s high oil price sensitivity is a concern too.
Other noteworthy reports we are featuring today include Sanofi and Boeing.
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The Boeing Company (BA) : Free Stock Analysis Report
Sanofi (SNY) : Free Stock Analysis Report
Chevron Corporation (CVX) : Free Stock Analysis Report
Oracle Corporation (ORCL) : Free Stock Analysis Report
Abbott Laboratories (ABT) : Free Stock Analysis Report
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