CHICAGO - (Business Wire) 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:
Schlumberger Ltd. (NYSE: SLB),
Halliburton (NYSE: HAL),
Baker Hughes (NYSE: BHI),
Nucor Corporation (NYSE: NUE) and
Paccar Inc. (NASDAQ: PCAR). Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter:
http://at.zacks.com/?id=4579 Here are highlights from Wednesday’s Analyst Blog:
Positives Factored in Schlumberger Prices
Schlumberger Ltd. (NYSE: SLB) posted a 13% jump in second-quarter earnings, driven by strong growth throughout the Eastern Hemisphere, which more than offset the seasonal slowdown in Canada. Revenue was up 20% year-over-year to $6.75 billion, powered by improved drilling in the North Sea, better project performance in Mexico and Russia and higher demand for technologies.
The company maintained its bullish near-term outlook with an improving onshore North American scenario complementing continued international strength. However, our Hold recommendation on Schlumberger shares remains unchanged as we continue to believe that Halliburton (NYSE: HAL) and Baker Hughes (NYSE: BHI) offer better value in this space.
NUE Set Up Well for Coming Quarters
Long-term steel contracts, constant cost-reduction efforts, higher steel prices, lower interest rates, strong cash flow position and a dominant acquisition strategy inspire our optimism with respect to Nucor Corporation’s (NYSE: NUE) performance in the coming quarters. Thus, we rate the stock a Buy and raise our six-month target price to $73.00.
Nucor had been able to successfully pass on higher raw material costs through a mechanism of steel surcharges, which helped maintain or even improve its operating margins. Going forward, we believe long-term price contracts will help Nucor to maintain its near-term profitability. Further, Nucor is striving to find innovative and cost-efficient ways to produce steel. In this respect, Nucor’s Castrip technology will structurally lower its cost of production and lead to meaningful long-term savings.
Paccar Blossoms in Int'l Markets
Paccar Inc. (NASDAQ: PCAR) is benefiting from rising prices and increasing market share, along with strong growth in Mexico and Australia. However, a strong Class 8 market downturn in the U.S. leads us to rate the stock a Hold, with a target of $55.00.
The company’s base business in the U.S. and Europe is improving, aside from cyclical effects. In 2008, sales are expected to be in the range of 210,000 to 240,000 units. The company expects 2008 industry sales in Europe to be at a record of 340,000 to 360,000 units.
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