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The Zacks Analyst Blog Highlights Bank of America, AT&T, Lockheed Martin, The Progressive and Biogen
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For Immediate Release
Chicago, IL – November 4, 2022 – 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: Bank of America Corp. (BAC - Free Report) , AT&T Inc. (T - Free Report) , Lockheed Martin Corp. (LMT - Free Report) , The Progressive Corp. (PGR - Free Report) and Biogen Inc. (BIIB - Free Report) .
Here are highlights from Thursday’s Analyst Blog:
Top Stock Reports for Bank of America, AT&T and Lockheed Martin
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 Bank of America Corp., AT&T Inc. and Lockheed Martin Corp.. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
Bank of America shares have modestly underperformed the Zacks Major Banks industry over the past year (-23.7% vs. -22.7%), with the uncertain macroeconomic environment as the primary cloud on the horizon for the stock as well as the broader group.
Bank of America's earnings outpaced the Zacks Consensus Estimate in three and lagged in one of the trailing four quarters. Its third-quarter 2022 results were primarily aided by higher rates and loan growth. The opening of new financial centers, enhancement in digital capabilities and cost-saving efforts are expected to keep aiding the company's financials.
Moreover, supported by continued loan growth, Bank of America's top line is expected to improve further. Given the rise in interest rates, the company is expected to keep witnessing growth in margins in the near term.
AT&T shares have underperformed the Zacks Wireless National industry over the past year (-25.7% vs. -14.1%). The Zacks analyst believes that the company is struggling with a steady decline in its legacy telephony Internet and wireline services. High-speed Internet revenues are also contracting due to a decline in the legacy digital subscriber line.
With the divesture of WarnerMedia, AT&T must build upon its core businesses to improve its value proposition as spectrum crisis and cord-cutting remain potent challenges. However, AT&T reported solid third-quarter 2022 results with healthy wireless traction and customer additions.
A customer-centric business model alongside a lower churn rate and higher-tier unlimited plans is providing robust growth in its postpaid wireless business. The company is actively investing in key areas of 5G and fiber to augment its fiber footprint. While optimizing operations, it is aiming to increase efficiencies to lower operating costs.
Shares of Lockheed Martin have outperformed the Zacks Aerospace - Defense industry over the past year (+43.1% vs. -8.1%). The company remains the largest U.S. defense contractor that has a steady inflow of orders from its leveraged presence in the Army, Air Force, Navy and IT programs.
Steady contract flows and subsequent backlog growth bolster its long-term revenue prospects. The budgetary provisions tend to boost its business. Yet, America and Turkey's tiff as a result of the latter accepting Russian products might hurt its component supply from Turkey.
Lockheed is facing performance issues concerning some of its products, which, in turn, may hurt its results. Also, an uncertainty revolving around the possible sanction by China on Lockheed might impact the latter.
Other noteworthy reports we are featuring today include The Progressive Corp. and Biogen Inc..
Why Haven't You Looked at Zacks' Top Stocks?
Our 5 best-performing strategies have blown away the S&P's impressive +28.8% gain in 2021. Amazingly, they soared +40.3%, +48.2%, +67.6%, +94.4%, and +95.3%. Today you can access their live picks without cost or obligation.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights Bank of America, AT&T, Lockheed Martin, The Progressive and Biogen
For Immediate Release
Chicago, IL – November 4, 2022 – 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: Bank of America Corp. (BAC - Free Report) , AT&T Inc. (T - Free Report) , Lockheed Martin Corp. (LMT - Free Report) , The Progressive Corp. (PGR - Free Report) and Biogen Inc. (BIIB - Free Report) .
Here are highlights from Thursday’s Analyst Blog:
Top Stock Reports for Bank of America, AT&T and Lockheed Martin
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 Bank of America Corp., AT&T Inc. and Lockheed Martin Corp.. 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 >>>
Bank of America shares have modestly underperformed the Zacks Major Banks industry over the past year (-23.7% vs. -22.7%), with the uncertain macroeconomic environment as the primary cloud on the horizon for the stock as well as the broader group.
Bank of America's earnings outpaced the Zacks Consensus Estimate in three and lagged in one of the trailing four quarters. Its third-quarter 2022 results were primarily aided by higher rates and loan growth. The opening of new financial centers, enhancement in digital capabilities and cost-saving efforts are expected to keep aiding the company's financials.
Moreover, supported by continued loan growth, Bank of America's top line is expected to improve further. Given the rise in interest rates, the company is expected to keep witnessing growth in margins in the near term.
(You can read the full research report on Bank of America here >>>)
AT&T shares have underperformed the Zacks Wireless National industry over the past year (-25.7% vs. -14.1%). The Zacks analyst believes that the company is struggling with a steady decline in its legacy telephony Internet and wireline services. High-speed Internet revenues are also contracting due to a decline in the legacy digital subscriber line.
With the divesture of WarnerMedia, AT&T must build upon its core businesses to improve its value proposition as spectrum crisis and cord-cutting remain potent challenges. However, AT&T reported solid third-quarter 2022 results with healthy wireless traction and customer additions.
A customer-centric business model alongside a lower churn rate and higher-tier unlimited plans is providing robust growth in its postpaid wireless business. The company is actively investing in key areas of 5G and fiber to augment its fiber footprint. While optimizing operations, it is aiming to increase efficiencies to lower operating costs.
(You can read the full research report on AT&T here >>>)
Shares of Lockheed Martin have outperformed the Zacks Aerospace - Defense industry over the past year (+43.1% vs. -8.1%). The company remains the largest U.S. defense contractor that has a steady inflow of orders from its leveraged presence in the Army, Air Force, Navy and IT programs.
Steady contract flows and subsequent backlog growth bolster its long-term revenue prospects. The budgetary provisions tend to boost its business. Yet, America and Turkey's tiff as a result of the latter accepting Russian products might hurt its component supply from Turkey.
Lockheed is facing performance issues concerning some of its products, which, in turn, may hurt its results. Also, an uncertainty revolving around the possible sanction by China on Lockheed might impact the latter.
(You can read the full research report on Lockheed Martin here >>>)
Other noteworthy reports we are featuring today include The Progressive Corp. and Biogen Inc..
Why Haven't You Looked at Zacks' Top Stocks?
Our 5 best-performing strategies have blown away the S&P's impressive +28.8% gain in 2021. Amazingly, they soared +40.3%, +48.2%, +67.6%, +94.4%, and +95.3%. Today you can access their live picks without cost or obligation.
See Stocks Free >>
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.