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Top Stock Picks for Week of November 21, 2022

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CarParts.com Inc. (PRTS - Free Report) offer e-commerce automotive aftermarket, providing collision, engine and performance parts and accessories. There has been increasing optimism among analysts lately about the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher. And that could be a legitimate reason to expect an upside in the stock. CarParts has a solid expected earnings growth rate for the current year. The Zacks Consensus Estimate for current-year earnings has been revised upward over the past 30 days. Moreover, PRTS currently has a Zacks Rank #1 (Strong Buy), which means it is in the top 5% of more than the 4,000 stocks that we rank based on four factors related to earnings estimates. 

Phillips 66's (PSX - Free Report) operations incorporate refining, midstream, marketing and specialties, and chemicals.Phillips 66 is the leading player in each of its operations like refining, chemicals and midstream in terms of size, efficiency and strength. With its pipeline network spreading across 22,000 miles, the company is a leader in the midstream business, generating stable fee-based revenues. The increased commodity prices have driven upstream investments, thereby increasing volumes for midstream operators. The company’s board of directors recently authorized a $5-billion increase to its stock repurchase program, bringing the total share repurchases authorized since its inception to $20 billion. The company plans to increase adjusted EBITDA by $3 billion over the next three years. Also, it is well-poised to make massive profits from higher demand for distillate fuels. Hence, Phillips 66 is considered a preferred energy company to own now.  


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