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The Zacks Analyst Blog Highlights Alphabet, Tesla, Amgen, FedEx and Capital One Financial

For Immediate Release

Chicago, IL – March 21, 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: Alphabet Inc. GOOGL, Tesla, Inc. TSLA, Amgen Inc. AMGN, FedEx Corp. FDX and Capital One Financial Corp. COF

Here are highlights from Monday’s Analyst Blog:

Top Analyst Reports for Alphabet, Tesla and Amgen

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 Alphabet Inc., Tesla, Inc. and Amgen 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 Alphabet were in line with the Zacks Internet - Services industry over the past six months (+2.3% vs. +2.4%). The company's fourth quarter results were driven by its strength in the cloud business. Solid momentum across Other Bets segment was a positive. Its robust cloud division remains the key catalyst. Expanding data centers will continue to bolster its presence in the cloud space.

Also, strong focus on AI techniques and the home automation space should aid business growth. The company's growing efforts to gain a foothold in the healthcare industry are other positives. Its deepening focus on its wearables category remains a tailwind. Alphabet's expanding presence in the autonomous driving space is contributing well.

However, sluggishness in the company's advertisement business remains a major headwind. Declining YouTube and Network advertising revenues are concerns.

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

Shares of Tesla have declined -41.3% over the past year against the Zacks Automotive - Domestic industry's decline of -46.3%. The company is facing inflation and economic concerns, which could pose near-term challenges, The Zacks analyst expects Tesla to deliver outsized returns in the long run on the back of output ramp-up and the introduction of new models.

Nevertheless, though Tesla witnessed a massive sell-off last year, its shares have seen a sharp rebound of late. The company's long-term prospects remain solid. The electric vehicle (EV) king is set to benefit from the soaring popularity of its Models 3 and Y. We expect deliveries to see an annualized growth of around 33% in 2023.

Production ramp-ups at gigafactory 4 (in Berlin) and 5 (in Austin) and the introduction of new models, including Semi and Cybertruck, are set to support long-term deliveries growth. Additionally, Tesla's energy generation and storage revenues outlook is promising. Falling debt levels is another positive.

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

Amgen's shares have outperformed the Zacks Medical - Biomedical and Genetics industry over the past six months (+2.4% vs. +0.4%). The company beat Q4 estimates for earnings and sales. Amgen is rapidly advancing its robust pipeline. The acquisition of ChemoCentryx added a strategic new growth asset, Tavneos, to Amgen's portfolio.

Amgen boasts a strong biosimilars portfolio with potential new products expected to drive long-term growth. While key drugs like Prolia, Repatha and Evenity are driving sales, increasing competition for its legacy products is hurting the same.

However, increased pricing headwinds and competitive pressure are hurting sales of many of Amgen's products including some biosimilars. Increasing biosimilar competition for some legacy products and weakness in key brands like Otezla and Lumakras, create potential revenue headwinds.

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

Other noteworthy reports we are featuring today include FedEx Corp.and Capital One Financial Corp..

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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.

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Amgen Inc. (AMGN) : Free Stock Analysis Report

Capital One Financial Corporation (COF) : Free Stock Analysis Report

FedEx Corporation (FDX) : Free Stock Analysis Report

Tesla, Inc. (TSLA) : Free Stock Analysis Report

Alphabet Inc. (GOOGL) : Free Stock Analysis Report

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Zacks Investment Research