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The Zacks Analyst Blog Highlights Verizon Communications, ICICI Bank, MercadoLibre, O'Reilly Automotive and Chipotle Mexican Grill
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For Immediate Release
Chicago, IL – August 7, 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: Verizon Communications Inc. (VZ - Free Report) , ICICI Bank Ltd. (IBN - Free Report) , MercadoLibre, Inc. (MELI - Free Report) , O'Reilly Automotive, Inc. (ORLY - Free Report) and Chipotle Mexican Grill, Inc. (CMG - Free Report) .
Here are highlights from Friday’s Analyst Blog:
Top Research Reports for Verizon, ICICI Bank and MercadoLibre
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 Verizon Communications Inc., ICICI Bank Ltd. and MercadoLibre, Inc. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
Shares of Verizon have declined -11.8% over the year-to-date period against the Zacks Wireless National industry’s decline of -13.0%. The company’s continued retail prepaid and postpaid net losses are hindering its top-line growth. Stiff competition from other major players and saturation in the U.S. wireless market is hurting profits.
Heavy spending on promotional activities to attract customers is also weighing on margins. It has reiterated its soft guidance for 2023 due to a challenging macroeconomic environment. Nevertheless, Verizon is witnessing significant 5G adoption and fixed wireless broadband momentum.
It is offering various mix and match pricing in both wireless and home broadband plans that has led to solid customer additions. Strong demand for Fios and fixed wireless products are tailwinds. Healthy traction in wireless business augurs well.
ADRs of India's ICICI Bank have outperformed the Zacks Banks - Foreign industry over the past six months (+14.1% vs. +5.4%) reflecting the favorable growth outlook for the country. The company's first-quarter fiscal 2024 (ended Jun 30) results show higher revenues, robust loans and deposit balance and a rise in provisions. Increased dependence on domestic loans, a rise in retail loan demand, higher interest rates and a stable funding base are expected to support the company's financials.
Furthermore, efforts of digitizing banking operations will help generate non-interest income, thereby supporting revenue growth. However, weak asset quality remains a major near-term headwind. Macroeconomic concerns, including high inflation across the globe, make us apprehensive.
Moreover, elevated operating expenses, mainly on the back of technology investments and ongoing branch expansion initiatives, will likely impede the bottom-line growth.
Shares of Argentina-based MercadoLibre have outperformed the Zacks Internet - Commerce industry over the past year (+29.1% vs. -3.5%). The company’s revenues were driven by accelerating commerce and fintech revenues. Increasing total payments volume (TPV), courtesy of the robust Mercado Pago, aided the company.
MercadoLibre’s rising gross merchandise volume (GMV) remained another positive. Strong shipment growth also contributed well to the reported results. MercadoLibre is benefiting from strength in its commerce and fintech businesses. Further, robust mobile-point-of-sale business and growing adoption of MercadoPago are driving the TPV.
Also, rapid adoption of Mobile Wallet remains a positive. Shares have outperformed the industry year to date. However, mounting expenses related to warehousing, free shipping subsidies and mPOS discounts are major concerns.
Other noteworthy reports we are featuring today include O'Reilly Automotive, Inc. and Chipotle Mexican Grill, Inc.
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 Verizon Communications, ICICI Bank, MercadoLibre, O'Reilly Automotive and Chipotle Mexican Grill
For Immediate Release
Chicago, IL – August 7, 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: Verizon Communications Inc. (VZ - Free Report) , ICICI Bank Ltd. (IBN - Free Report) , MercadoLibre, Inc. (MELI - Free Report) , O'Reilly Automotive, Inc. (ORLY - Free Report) and Chipotle Mexican Grill, Inc. (CMG - Free Report) .
Here are highlights from Friday’s Analyst Blog:
Top Research Reports for Verizon, ICICI Bank and MercadoLibre
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 Verizon Communications Inc., ICICI Bank Ltd. and MercadoLibre, Inc. 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 >>>
Shares of Verizon have declined -11.8% over the year-to-date period against the Zacks Wireless National industry’s decline of -13.0%. The company’s continued retail prepaid and postpaid net losses are hindering its top-line growth. Stiff competition from other major players and saturation in the U.S. wireless market is hurting profits.
Heavy spending on promotional activities to attract customers is also weighing on margins. It has reiterated its soft guidance for 2023 due to a challenging macroeconomic environment. Nevertheless, Verizon is witnessing significant 5G adoption and fixed wireless broadband momentum.
It is offering various mix and match pricing in both wireless and home broadband plans that has led to solid customer additions. Strong demand for Fios and fixed wireless products are tailwinds. Healthy traction in wireless business augurs well.
(You can read the full research report on Verizon here >>>)
ADRs of India's ICICI Bank have outperformed the Zacks Banks - Foreign industry over the past six months (+14.1% vs. +5.4%) reflecting the favorable growth outlook for the country. The company's first-quarter fiscal 2024 (ended Jun 30) results show higher revenues, robust loans and deposit balance and a rise in provisions. Increased dependence on domestic loans, a rise in retail loan demand, higher interest rates and a stable funding base are expected to support the company's financials.
Furthermore, efforts of digitizing banking operations will help generate non-interest income, thereby supporting revenue growth. However, weak asset quality remains a major near-term headwind. Macroeconomic concerns, including high inflation across the globe, make us apprehensive.
Moreover, elevated operating expenses, mainly on the back of technology investments and ongoing branch expansion initiatives, will likely impede the bottom-line growth.
(You can read the full research report on ICICI Bank here >>>)
Shares of Argentina-based MercadoLibre have outperformed the Zacks Internet - Commerce industry over the past year (+29.1% vs. -3.5%). The company’s revenues were driven by accelerating commerce and fintech revenues. Increasing total payments volume (TPV), courtesy of the robust Mercado Pago, aided the company.
MercadoLibre’s rising gross merchandise volume (GMV) remained another positive. Strong shipment growth also contributed well to the reported results. MercadoLibre is benefiting from strength in its commerce and fintech businesses. Further, robust mobile-point-of-sale business and growing adoption of MercadoPago are driving the TPV.
Also, rapid adoption of Mobile Wallet remains a positive. Shares have outperformed the industry year to date. However, mounting expenses related to warehousing, free shipping subsidies and mPOS discounts are major concerns.
(You can read the full research report on MercadoLibre here >>>)
Other noteworthy reports we are featuring today include O'Reilly Automotive, Inc. and Chipotle Mexican Grill, Inc.
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.