For Immediate Release
Chicago, IL – July 8, 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: Alibaba Group BABA, NVIDIA NVDA, Bristol Myers Squibb BMY, PetroChina PTR and S&P Global SPGI.
Here are highlights from Tuesday’s Analyst Blog:
Top Stock Reports for Alibaba, Nvidia and Bristol Myers Squibb
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 Alibaba Group, NVIDIA and Bristol Myers Squibb. 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 >>>
Alibaba shares have modestly lagged the Zacks Internet Commerce industry over the past year (+43.8% vs. +52.7%), but have otherwise been stellar performers. The Zacks analyst believes that Alibaba Group is driven by a steady improvement in core commerce and strong cloud business. The company continues to benefit from strong growth in metrics.
Further, Alibaba’s strengthening cloud business with its expanding customer base continues to drive its performance. The company's New Retail strategy is also gaining momentum. This is aiding growth in Tmall Import, Hema fresh food grocery business and Intime Department Stores.
However, higher costs associated with new initiatives remain a major concern. Also, COVID-19 related economic uncertainties and macro headwinds in China are major concerns. In addition, rising competition from e-commerce players like Amazon poses a risk.
Shares of NVIDIA have gained +67% over the past six months against the Zacks General Semiconductor industry’s rise of +18%. The Zacks analyst believes that NVIDIA is benefiting from the coronavirus-induced work from home and learn-at-home wave.
The company is also benefiting from strong growth in GeForce desktop and notebook GPUs, which is boosting gaming revenues. Moreover, a surge in Hyperscale demand remains a tailwind for the company’s Data Center business. The company expanded NVIDIA GeForce NOW in the last quarter, which is expected to drive user base.
Further, the solid uptake of AI-based smart cockpit infotainment solutions is a boon. Additionally, its latest collaboration with Mercedes-Benz is expected to further strengthen NVIDIA’s presence in the autonomous vehicles and other automotive electronics space. However, in the near term, management expects a $100-million negative impact of the coronavirus menace on revenues. Moreover, the U.S.-China trade war remains a key concern.
Bristol Myers Squibb’s shares have gained +4% over the past three months against the Zacks Large Cap Pharmaceuticals industry’s rise of +17.4%. The Zacks analyst believes that Bristol-Myers’ blockbuster immuno-oncology drug, Opdivo, and blood thinner drug, Eliquis, will drive growth for the company.
Eliquis is the leading oral anti-coagulant drug and the company continues to witness growth in both Eliquis brand and the market. The label expansion of Opdivo for first-line NSCLC should boost growth. The addition of sales from Celgene’s drugs (acquired in November 2019) has boosted growth prospects. In particular, the addition of Revlimid has strengthened the oncology portfolio.
However, the company trimmed its revenue forecast with the first-quarter results. Opdivo’s performance was dismal as it faces stiff competition from Keytruda and Tecentriq. Moreover, concerns will rise once Revlimid loses patent protection. Pipeline setbacks too weighed on shares.
Other noteworthy reports we are featuring today include PetroChina and S&P Global.
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NVIDIA Corporation (NVDA) : Free Stock Analysis Report
PetroChina Company Limited (PTR) : Free Stock Analysis Report
Bristol Myers Squibb Company (BMY) : Free Stock Analysis Report
Alibaba Group Holding Limited (BABA) : Free Stock Analysis Report
SP Global Inc. (SPGI) : Free Stock Analysis Report
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