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The Zacks Analyst Blog Highlights: QUALCOMM, Intuit, Boeing, Biogen and Ally Financial

For Immediate Release

Chicago, IL – November 9, 2020 – 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: QUALCOMM Incorporated QCOM, Intuit Inc. INTU, The Boeing Company BA, Biogen Inc. BIIB and Ally Financial Inc. ALLY.

Here are highlights from Friday’s Analyst Blog:

Top Research Reports for QUALCOMM, Intuit and Boeing

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 QUALCOMM, Intuit and Boeing. 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 >>>

QUALCOMM shares have outperformed the Zacks Wireless Equipment industry in the year to date period (+64.8% vs. +32.9%). The Zacks analyst believes that Qualcomm is benefiting from the investments toward building a licensing program in mobile.

Qualcomm reported solid fourth-quarter fiscal 2020 results driven by the ramp-up in 5G-enabled chips and robust business model with the ability to respond pro-actively to the evolving market scenario. The company has resolved a dispute with Huawei and inked a new long-term patent license agreement, which augurs well for long-term revenues. Qualcomm has launched low-priced 5G chips for the masses for a seamless transition to 5G while delivering low-power resilient multi-gigabit connectivity.

However, lower handset shipments due to COVID-19 pandemic remain a near-term headwind. Qualcomm is expected to face softness in demand from China. Over the past years, the company’s margins have declined due to high operating and R&D expenses. Intense competition from low-cost chip manufacturers and concentration risks are other significant concerns. 

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

Shares of Intuit have gained +35.3% over the past year against the Zacks Computer Software industry’s rise of +42%. The Zacks analyst believes that Intuit is witnessing recovering trends across its platforms including improved retention rates and payment volumes.

Small businesses are accelerating their shift to online and omni-channel commerce, a trend that Intuit is well-poised to benefit from. Sturdy momentum in its QuickBooks solutions is a key catalyst. Growing demand for TurboTax Live and increasing clientele of Intuit’s payroll offering are positives.

Moreover, the company’s strategy of shifting its business to a cloud-based subscription model will help generate stable revenues. Additionally, the acquisition of Credit Karma is expected to boost customer base. Nonetheless, Intuit’s near-term prospect looks gloomy as the coronavirus-led global lockdown has affected small businesses, posing risks to its top-line growth.

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

Boeing’s shares have gained +22.1% over the past six months against the Zacks Aerospace & Defense industry’s rise of +3.4%. The Zacks analyst believes that the long-term prospects of global services unit and increasing fiscal defense budget are expected to boost Boeing's growth.

Boeing ended third-quarter 2020 on a solid note, with its top and bottom line figures surpassing the respective Zacks Consensus Estimate. However, results were unimpressive on a year-over-year basis. Nevertheless, Boeing remains the largest aircraft manufacturer in the United States. Although its commercial business outlook for the near term appears grim, over the long run, the jet maker holds immense growth prospects. 

However, Airbus beat Boeing as the world's largest plane makers in 2019 for the first time in the last eight years. Although the company projects its 737 MAX deliveries to resume during the fourth quarter of 2020, its commercial business is likely to perform poorly until successful delivery of these jets starts and substantial revenues are generated.

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

Other noteworthy reports we are featuring today include Biogen and Ally Financial.

5 Stocks Set to Double

Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.

Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.

Today, See These 5 Potential Home Runs >>

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Zacks Investment Research

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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.


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
 
Biogen Inc. (BIIB): Free Stock Analysis Report
 
The Boeing Company (BA): Free Stock Analysis Report
 
Intuit Inc. (INTU): Free Stock Analysis Report
 
QUALCOMM Incorporated (QCOM): Free Stock Analysis Report
 
Ally Financial Inc. (ALLY): Free Stock Analysis Report
 
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