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: Tesla, Inc. TSLA, Comcast Corp. CMCSA, Intuit Inc. INTU, Intel Corp. INTC and Old Dominion Freight Line, Inc. ODFL.

Here are highlights from Monday’s Analyst Blog:

Top Analyst Reports for Tesla, Comcast and Intuit

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 Tesla, Inc., Comcast Corp. and Intuit Inc.. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.

Tesla shares have outperformed the Zacks Automotive – Domestic industry over the past six months (+46.6% vs. +32.1%). In the last reported quarter, the electric vehicle (EV) giant witnessed record production, deliveries and revenues. We expect deliveries to see an annualized growth of around 36% in 2023.

Production ramp-up at gigafactory 4 (in Berlin) and 5 (in Austin) and introduction of new models, including Semi and Cybertruck, are set to support long-term deliveries growth. The Zacks analyst anticipates automotive revenues to rise more than 18% this year. Additionally, Tesla’s energy generation and storage revenues outlook is promising.

Falling debt levels and solid potential of its charging business are other positives. While shrinking margins remain a near-term concern, we expect Tesla to deliver outsized returns in the long run on the back of output ramp-up and introduction of new models.

Shares of Comcast have outperformed the Zacks Cable Television industry over the past year (+24.9% vs. +4.5%). The company is benefiting from a growing wireless subscriber base as witnessed in the second quarter of 2023. Comcast’s plan to transition to DOCSIS 4.0 is noteworthy. The technology will help it in expanding much faster and at a lower cost compared to competitors.

Recovery in park and movie business bodes well for Comcast’s profitability. Its streaming service Peacock is a key catalyst in driving broadband sales. Strong free cash flow generation ability is noteworthy.

However, Comcast persistently suffers from video-subscriber attrition due to cord cutting. Moreover, broadband prospects are suffering from increased competition from fixed wireless as well as fiber. Additionally, a leveraged balance sheet is a major concern.

Shares of Intuit have gained +15.4% over the past year against the Zacks Computer – Software industry’s gain of +24.7%. The company is benefiting from strong momentum in online ecosystem revenues and solid professional tax revenues. The TurboTax Live offering is also driving growth in the Consumer tax business.

Solid momentum in the company’s lending product, QuickBooks Capital, remains a positive. Moreover, the company’s strategy of shifting its business to cloud-based subscription model will help generate stable revenues over the long run.

Nonetheless, macroeconomic and geopolitical headwinds might significantly hurt small businesses operations, thereby posing risks for Intuit’s top-line growth. Additionally, higher costs and expenses due to increased investments in marketing and engineering teams are likely to continue impacting bottom-line results in the near term.

 

Intel Corporation (INTC): Free Stock Analysis Report

Comcast Corporation (CMCSA): Free Stock Analysis Report

Intuit Inc. (INTU): Free Stock Analysis Report

Old Dominion Freight Line, Inc. (ODFL): Free Stock Analysis Report

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

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