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The Zacks Analyst Blog Highlights Broadcom, Starbucks, Equinor, General Mills and Realty Income
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For Immediate Release
Chicago, IL – June 26, 2023 – 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: Broadcom Inc. (AVGO), Starbucks Corp. (SBUX - Free Report) , Equinor ASA (EQNR - Free Report) , General Mills, Inc. (GIS - Free Report) and Realty Income Corp. (O - Free Report) .
Here are highlights from Friday’s Analyst Blog:
Top Analyst Reports for Broadcom, Starbucks and Equinor
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 Broadcom, Starbucks Corp. and Equinor ASA. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
Broadcom shares have outperformed the Zacks Electronics - Semiconductors industry over the past year (+70.4% vs. +46.2%), reflecting the company’s leverage to strong demand for AI chips by hyperscalers, service providers and enterprises.
Networking remained strong as the company witnessed strong growth from the deployment of Tomahawk 5 for data center switching at hyperscale customers and Jericho routing platforms for telecommunication providers. Broadband benefited from continued deployments by telecommunication providers of next-gen 10-gigabit PON and DOCSIS 3.1 with embedded Wi-Fi 6 and 6E.
Broadcom expects networking revenues to be strong and grow nearly 20% year over year in the fiscal third quarter. Server storage connectivity revenues are expected to be up low single digits year over year. However, Broadband revenues growth is expected to be in moderate to low-single-digit percent year over year.
Shares of Starbucks have outperformed the Zacks Retail - Restaurants industry over the past year (+31.9% vs. +27.2%). The company is benefiting from solid growth in all its operational segments along with impressive revenue recovery from China after COVID-19.
Improving customer experience with innovative new store designs and upgraded product offerings, and supply-chain efficiencies bode well for the company.
Also, the company’s focus on product innovation and store growth adds to its growth. However, increased expenses and inflation are major concerns to the company’s growth trend.
Shares of Equinor have underperformed the Zacks Oil and Gas - Refining and Marketing industry over the past year (-2.8% vs. +9.4%). The company’s balance sheet has significant exposure to debt compared with the composite stocks in the industry. Also, rising exploration expenses will continue to hurt the energy major’s bottom line. As such, the stock warrants a cautious stance.
Nevertheless, Equinor is one of the premier integrated energy companies, with operations across 30 countries. In offshore activities, the integrated energy major completed five exploration wells in the fourth quarter. Along with it, the company made one commercial discovery.
Equinor kept its production growth expectations at 3% for 2023. To combat climate change, the company is actively investing in renewable energy projects, comprising power generation from solar and wind energy. Equinor’s better-than-expected quarterly earnings were aided by higher daily production of liquids and gas.
Other noteworthy reports we are featuring today include General Mills, Inc. and Realty Income Corp.
Why Haven’t You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. 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 Broadcom, Starbucks, Equinor, General Mills and Realty Income
For Immediate Release
Chicago, IL – June 26, 2023 – 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: Broadcom Inc. (AVGO), Starbucks Corp. (SBUX - Free Report) , Equinor ASA (EQNR - Free Report) , General Mills, Inc. (GIS - Free Report) and Realty Income Corp. (O - Free Report) .
Here are highlights from Friday’s Analyst Blog:
Top Analyst Reports for Broadcom, Starbucks and Equinor
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 Broadcom, Starbucks Corp. and Equinor ASA. 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 >>>
Broadcom shares have outperformed the Zacks Electronics - Semiconductors industry over the past year (+70.4% vs. +46.2%), reflecting the company’s leverage to strong demand for AI chips by hyperscalers, service providers and enterprises.
Networking remained strong as the company witnessed strong growth from the deployment of Tomahawk 5 for data center switching at hyperscale customers and Jericho routing platforms for telecommunication providers. Broadband benefited from continued deployments by telecommunication providers of next-gen 10-gigabit PON and DOCSIS 3.1 with embedded Wi-Fi 6 and 6E.
Broadcom expects networking revenues to be strong and grow nearly 20% year over year in the fiscal third quarter. Server storage connectivity revenues are expected to be up low single digits year over year. However, Broadband revenues growth is expected to be in moderate to low-single-digit percent year over year.
(You can read the full research report on Broadcom here >>>)
Shares of Starbucks have outperformed the Zacks Retail - Restaurants industry over the past year (+31.9% vs. +27.2%). The company is benefiting from solid growth in all its operational segments along with impressive revenue recovery from China after COVID-19.
Improving customer experience with innovative new store designs and upgraded product offerings, and supply-chain efficiencies bode well for the company.
Also, the company’s focus on product innovation and store growth adds to its growth. However, increased expenses and inflation are major concerns to the company’s growth trend.
(You can read the full research report on Starbucks here >>>)
Shares of Equinor have underperformed the Zacks Oil and Gas - Refining and Marketing industry over the past year (-2.8% vs. +9.4%). The company’s balance sheet has significant exposure to debt compared with the composite stocks in the industry. Also, rising exploration expenses will continue to hurt the energy major’s bottom line. As such, the stock warrants a cautious stance.
Nevertheless, Equinor is one of the premier integrated energy companies, with operations across 30 countries. In offshore activities, the integrated energy major completed five exploration wells in the fourth quarter. Along with it, the company made one commercial discovery.
Equinor kept its production growth expectations at 3% for 2023. To combat climate change, the company is actively investing in renewable energy projects, comprising power generation from solar and wind energy. Equinor’s better-than-expected quarterly earnings were aided by higher daily production of liquids and gas.
(You can read the full research report on Equinor here >>>)
Other noteworthy reports we are featuring today include General Mills, Inc. and Realty Income Corp.
Why Haven’t You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. 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.