Zacks Analyst Blog Features Bank of America, Qualcomm ConocoPhillips, Target and Caterpillar

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For immediate release

Chicago, IL – March 11, 2022 – Zacks.com announces the list of stocks featured in the analyst blog. Every day, Zacks Equity Research analysts discuss the latest news and events impacting stocks and financial markets. Stocks recently featured in the blog include: Bank of America Corp. BAC, Qualcomm Inc. QCOM and ConocoPhillips COP, Target Corp. TGT and Caterpillar Inc. CAT.

Here are highlights from Thursday’s analyst blog:

Top Stock Reports for Bank of America, Qualcomm and ConocoPhillips

Zacks Research Daily features the best research results from our team of analysts. Today’s Research Daily features new research reports on 16 major stocks, including Bank of America Corp, Qualcomm Inc., Conoco Phillips. These research reports have been handpicked from the approximately 70 reports published today by our team of analysts.

You can see all today’s research reports here >>>

Shares of Bank of America have outperformed the industry Zacks Banks – Major Regional over the past year (+9.8% vs -0.2%). Bank of America’s earnings have exceeded the Zacks consensus estimate in each of the past four quarters. Its fourth quarter 2021 results reflect the impacts of rising loan demand, strong investment banking (IB) performance and lower rates.

The Zacks analyst believes that the opening of new financial centers, improved digital capabilities and expense management initiatives, along with a strong balance sheet and liquidity position, increased loan demand and a strong IB pipeline, will contribute to the company’s revenues.

The company will continue to build shareholder value through impressive capital deployment activities. However, the low interest rate environment is expected to continue to negatively impact the Company’s margins and net interest income in the near term. The normalization of trading activities will probably hamper the growth of commission income to some extent.

(You can read the full Bank of America research report here >>>)

Shares of Qualcomm have outperformed the Zacks wireless equipment sector over the past year (+22.9% vs -0.2%). Qualcomm reported strong results in the first quarter of fiscal 2022 with record non-GAAP earnings and revenue, driven by the rise of 5G-enabled chips and increased demand for essential products and services that are the building blocks of digital transformation in the cloud economy. Net income and revenue increased year-over-year and exceeded Zacks’ respective consensus estimate, supported by the strength of the business model and revenue diversification.

Zacks analyst believes Qualcomm is seeing healthy traction in the EDGE network that is helping transform connectivity in cars, businesses, homes, smart factories, next-gen PCs, wearables and tablets as continues to diversify. However, high research and development costs are likely to squeeze margins, while the global chip shortage due to supply chain disruptions is a major headwind.

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

Conoco Phillips shares have gained +61.9% over the past year against US industry Zacks Oil and Gas – Integrated – gain of +70.9%. The Zacks analyst believes there are significant opportunities for the company at Eagle Ford, where it has about 1,600 undrilled locations that could provide access to huge reserves.

With the acquisition of Shell Enterprises’ position in the Delaware Basin, ConocoPhillips strengthened its position in the Permian. With the $9.5 billion cash transaction, COP acquired approximately 225,000 net acres and producing properties in Texas.

In 2022, the company forecasts production of around 1.8 MMBoE/d, suggesting an improvement from 1.5 MMBoE/d last year. Additionally, ConocoPhillips has revised upwards its scheduled 2022 return of capital to shareholders. The new direction is $8 billion.

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

Other noteworthy reports we are presenting today include Target Corp. and Caterpillar Inc..

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Past performance is not indicative of future results. The potential for loss is inherent in any investment. This document is provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold any security. No recommendation or advice is given as to whether any investment is suitable for any particular investor. It should not be assumed that investments in the securities, companies, sectors or markets identified and described have been or will be profitable. All information is current as of the date hereof and is subject to change without notice. The views or opinions expressed may not reflect those of the company as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management of securities. These returns come from hypothetical portfolios composed of stocks with Zacks Rank = 1 that have been rebalanced monthly without transaction fees. These are not the returns of actual stock portfolios. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for more information on the performance figures displayed in this press release.

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Bank of America Corporation (BAC): Free Stock Analysis Report

QUALCOMM Incorporated (QCOM): Free Stock Analysis Report

Caterpillar Inc. (CAT): Free Inventory Analysis Report

ConocoPhillips (COP): Free Stock Analysis Report

Target Corporation (TGT): Free Stock Analysis Report

To read this article on Zacks.com, click here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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