For Immediate Releases
Chicago, IL – October 9, 2024 – 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:JPMorgan Chase & Co. JPM, Medtronic plc MDT and Shopify Inc. SHOP and Perma-Pipe International Holdings, Inc. PPIH.
Here are highlights from Wednesday’s Analyst Blog:
Top Research Reports for JPMorgan Chase, Medtronic and Shopify
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 JPMorgan Chase & Co., Medtronic plc and Shopify Inc., as well as a micro-cap stock Perma-Pipe International Holdings, Inc. The Zacks microcap research is unique as our research content on these small and under-the-radar companies is the only research of its type in the country.
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 JPMorgan Chase have outperformed the Zacks Banks - Major Regional industry over the year-to-date period (+26.9% vs. +22.9%). Relatively high interest rates, strategic buyouts, opening branches and solid loan balance will support net interest income (NII), though elevated funding costs will weigh on it.
According to the Zacks analyst estimates for NII (managed) and loans imply a CAGR of 1% and 4.7%, respectively, by 2026. While there has been a resurgence in deal-making activities, a complete revival will still take some time. Hence, the performance of the IB business is not expected to improve much.
The volatile nature of the capital markets business and high mortgage rates will likely hurt fee income growth. Owing to these challenges, we expect non-interest income (managed) to rise in 2024 but decline next year. Mounting operating expenses will hamper the bottom line. We expect total non-interest expenses to rise 5.9% in 2024.
(You can read the full research report on JPMorgan Chase here >>>)
Medtronic’s shares have gained +8.3% over the year-to-date period against the Zacks Medical - Products industry’s gain of +12.0%. The company is strategically expanding its global presence to address the unmet demand for advanced medical devices. Within Cardiovascular, Medtronic is gaining market share, banking on product launches in CRM and Structural Heart.
Hypertension has brought up multibillion-dollar opportunities for MDT. In MedSurg, Medtronic is scaling the production of Hugo RAS. The Surgical and Neuroscience portfolios continues to contribute positively.
Further, the company’s Pacing business continued to drive strong growth banking on strong global growth of its Micra leadless pacemaker. Innovations and market expansion efforts are helping it offset the impact of the inflation and supply disruptions.Medtronic’s strong liquidity position should allow it to meet its near-term debt obligations. All these factors support our bullish stance on the stock.
(You can read the full research report on Medtronic here >>>)
Shares of Shopify have gained +3.8% over the year-to-date period against the Zacks Internet - Services industry’s gain of +15.7%. The company is benefiting from strong growth in its merchant base. New merchant-friendly tools like Bill Pay, Tax Platform, Collective and the Marketplace Connect app are helping it to win new merchants regularly.
Strong adoption of these solutions holds promise for Shopify’s prospects. Integration of Shop Pay Installments into the point-of-sale terminal and general availability of Pro makes it easier for merchants to discover and engage their customers. Expansion of back-office merchant solutions to more countries is also strengthening Shopify’s international footprint.
An expanding partner base that includes TikTok, Snap, Pinterest, Criteo, IBM, Cognizant, Amazon, and Adayen are expected to expand its merchant base further. However, persistent inflation and cautious consumer spending are headwinds.
(You can read the full research report on Shopify here >>>)
Perma-Pipe International’s shares have outperformed the Zacks Steel - Pipe and Tube industry over the year-to-date period (+67.7% vs. +5.2%). This microcap company with market capitalization of $106.18 million has demonstrated solid financial growth in 2024, with net sales rising 11% to $71.8 million and gross profit up to $24 million, supported by increased volumes and a favorable product mix.
The company’s backlog signals strong future revenue potential. Strategic expansions position it to capitalize on high-growth sectors like oil & gas and petrochemicals. Technological innovation, particularly the XTRU-THERM insulation system, provides a competitive edge, securing contracts in key markets. Financially, Perma-Pipe's improved cash reserves and liquidity position it well for future growth, though rising debt and high interest costs pose challenges.
However, project delays in the Middle East, foreign currency risks and geographic exposure to volatile regions could impact profitability. Heavy reliance on the oil and gas sector also creates revenue concentration risks.
(You can read the full research report on Perma-Pipe International here >>>)
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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.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
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.
JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report
Medtronic PLC (MDT) : Free Stock Analysis Report
Shopify Inc. (SHOP) : Free Stock Analysis Report
Perma-Pipe International Holdings, Inc. (PPIH): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
