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Top Stock Reports for NVIDIA, Chevron & Accenture

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·5-min read
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Thursday, January 20, 2022

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 NVIDIA Corporation (NVDA), Chevron Corporation (CVX), and Accenture plc (ACN). 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 NVIDIA have massively outperformed the Zacks General Semiconductor industry over the past year (+80.9% vs. +33.3%) on the back of the chipmaker's leverage to all major emerging trends in the broader technology space, ranging from artificial intelligence to analytics and gaming. The company is also seen as a major player in the AR/VR space and stands to benefit from developments on the metaverse front. 

The surge in Hyperscale demand remains a tailwind for NVIDIA’s Data Center business. Expansion of NVIDIA GeForce NOW is expected to drive user base. Collaboration with Mercedes-Benz is likely to further strengthen NVIDIA’s presence in the autonomous vehicles space. A solid line-up of advanced graphics cards has made it a favorite graphics card provider among PC makers.

(You can read the full research report on NVIDIA here >>>)

Chevron shares have gained +16.7% over the past three months against the Zacks Integrated Oil industry’s gain of +9.2%. The Zacks analyst believes that Chevron seems one of the best-placed global integrated oil companies to achieve sustainable production ramp-up. The company's average output during the first nine months of 2021 was 3,093 thousand oil-equivalent barrels per day.

Chevron acquired Noble Energy for $5 billion, which expanded its presence in the DJ Basin and the Permian Basin. CVX’s existing project pipeline is among the best in the industry, thanks to its premier position in the lucrative Permian Basin. Chevron, however, has been forced to cut spending substantially due to last year’s price crash. High oil price sensitivity is another major concern.

(You can read the full research report on Chevron here >>>)

Shares of Accenture have gained +10.2% in the last three months against the Zacks Consulting industry’s gain of +9.9%. The Zacks analyst believes that Accenture has been gaining traction in its outsourcing and consulting businesses on the back of high demand for services that not only improve operating efficiencies but also save costs.

ACN has also been making strides toward enhancing its cloud and digital marketing suite through buyouts and partnerships. Strong operating cash flow has helped it reward its shareholders through dividend payments and share repurchases. Pricing pressure, foreign currency fluctuations and buyout-related integration risks continue to weigh on its margins.

(You can read the full research report on Accenture here >>>)

Other noteworthy reports we are featuring today include QUALCOMM Incorporated (QCOM), American Express Company (AXP) and HCA Healthcare, Inc. (HCA).

Sheraz Mian

Director of Research

Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>

Today's Must Read

Strong GPU Adoption in Gaming, Datacenter Aids NVIDIA (NVDA)

Chevron (CVX) to Gain from Massive Permian Acreage

Accenture (ACN) Benefits From Symantec Buyout & Low Debt

Featured Reports

Qualcomm (QCOM) Rides on Solid 5G Traction, Edge Networking
Per the Zacks analyst, Qualcomm is likely to benefit from solid 5G traction, innovative chips, and healthy traction in EDGE networking that helps to transform connectivity in business enterprises.

AmEx (AXP) to Gain From Rising Consumer Spending & Buyouts
Per the Zacks analyst, economic recovery and increased consumer spending will boost volumes, and buyouts would trigger inorganic growth for American Express.

Rising Top-line Aid, High Debts Hurt HCA Healthcare (HCA)
Per the Zacks analyst, its growing top-line driven by increasing admissions has led to significant growth of the company.

Recent Buyout Aids Boston Scientific (BSX), Forex Woes Ail
The Zacks analyst is bullish about Boston Scientific's recent acquisitions including Lumenis which is expected to expand the company's Urology portfolio.

Cost Control Measures to Aid BNY Mellon's (BK) Bottom Line
Per the Zacks analyst, BNY Mellon's global reach, its robust assets under management along with its initiatives to improve efficiency through cost control measures are expected to support profits.

New Product Development, Wide Market Reach Aid Eaton (ETN)
Per the Zacks analyst, Eaton's operations across the world and the development of new products through ongoing R&D investments will continue to drive demand and boost profitability.

MGM Resorts (MGM) Banks on Sport Betting, Traffic Woes Stay
Per the Zacks analyst, MGM Resorts is benefiting from pent-up consumer demand, high domestic casino spending, and robust demand for sports betting.

New Upgrades

Acquisitions, Strong Demand Aid Westlake Chemical (WLK)
Per the Zacks analyst, strong demand for polyethylene and polyvinyl chloride resin will drive the company's top line. It should also gain from synergies of acquisitions.

Solid Steel Demand & Investments to Aid National Steel (SID)
Per the Zacks analyst, National Steel will gain from focus on investment in business, higher prices of steel, and solid steel demand across automotive, domestic and international markets.

United Natural (UNFI) Gains on Solid Cross-Selling Revenues
Per the Zacks analyst, United Natural has been benefiting from strong cross-selling revenues. In the first quarter, the company generated more than $60 million of additional cross-selling revenues.

New Downgrades

High Material Cost & Supply Chain Issues Hurt Shopify (SHOP)
Per the Zacks analyst, Shopify is suffering from rising material costs and supply chain headwinds. Higher investments on product development are expected to keep margins under pressure.

Elevated Operating Costs Mar ZTO Express' (ZTO) Prospects
The Zacks analyst is worried about the escalating selling, general, and administrative (SG&A) costs, which are shooting up operating expenses. This, in turn, is squeezing the bottom line.

Recent Pipeline Setbacks Weighs Heavily on Immunovant (IMVT)
Per the Zacks analyst, Immunovant faced a major setback when it paused dosing in studies on lead pipeline candidate, IMVT-1401. The lack of other pipeline candidates also remains an overhang.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
QUALCOMM Incorporated (QCOM) : Free Stock Analysis Report
 
Accenture PLC (ACN) : Free Stock Analysis Report
 
Chevron Corporation (CVX) : Free Stock Analysis Report
 
American Express Company (AXP) : Free Stock Analysis Report
 
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
 
HCA Healthcare, Inc. (HCA) : Free Stock Analysis Report
 
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