Top Research Reports for Bank of America, Salesforce & Pepsi

Friday, December 5, 2025

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 Bank of America Corp. (BAC), Salesforce, Inc. (CRM) and PepsiCo, Inc. (PEP), as well as two micro-cap stocks United Homes Group, Inc. (UHG) and AmeriServ Financial, Inc. (ASRV).  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 >>>

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You can read today's AWS here >>> Netflix to Buy Warner Brothers for $72 Billion, PCE Data Delayed

Today's Featured Research Reports

Shares of Bank of America have gained +18.9% over the past year against the Zacks Financial - Investment Bank industry’s gain of +30.6%. Despite rate cuts, the company's net interest income (NII) will likely be aided by decent loan growth. We expect NII to see a CAGR of 5.7% by 2027. Plans to open financial centers in new and existing markets, and improve digital capabilities will support the top line. The Zacks analyst project total revenues to grow 6.9% in 2025. 

Yet, the volatile nature of the capital markets makes growth in trading revenues uncertain. Despite a robust trading performance since 2022, growth may normalize going forward. While the Zacks analyst expect sales and trading revenues to increase in 2025, the metric will likely decline in 2026. 

Elevated expenses due to steady investments in franchise will likely hurt bottom-line growth. The Zacks analyst expect expenses to rise 4.3% in 2025. Weak asset quality is another headwind.

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

Salesforce’s have underperformed the Zacks Computer - Software industry over the past year (-28.7% vs. +2.9%). The company is facing stiff competition and unfavorable currency fluctuations are concerns. Softening IT spending amid ongoing macroeconomic uncertainties may hurt its growth prospects.

Nevertheless, Salesforce is benefiting from a robust demand environment as customers are undergoing a major digital transformation. Its sustained focus on aligning products with customer needs is driving the top line. Continued deal wins in the international market are another growth driver. 

The buyout of Slack has positioned it as a leader in enterprise team collaboration and improved its competitive standing compared to Microsoft Teams. Salesforce’s strategy of continuous expansion of generative AI offerings will help it tap the growing opportunities in the space.

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

Shares of Pepsi have underperformed the Zacks Beverages - Soft drinks industry over the past year (-5.1% vs. +7.7%). The company’s shares prices reflect concerns about PFNA softness, weak margins, and persistent cost and tariff pressures. Ongoing currency headwinds further weigh on results.

However, PepsiCo’s third-quarter 2025 results highlight a steady improvement in business fundamentals across its global portfolio. The international segment remained a key strength, supported by broad-based growth in beverages and convenient foods. In North America, the beverages business performed well, aided by strong brand execution and rising demand for functional offerings. 

Quaker Foods also showed signs of recovery as innovation and improved availability supported better marketplace performance. With ongoing productivity gains and digital transformation efforts, PepsiCo is positioned for sustained long-term growth.

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

United Homes’ shares have underperformed the Zacks Real Estate - Development industry over the past year (-75.6% vs. -2.8%). This microcap company with a market capitalization of $69.99 million has weak operating leverage amid declining revenue, soft orders and a thin backlog. Backlog rose to 264 pre-sold homes, boosting visibility, but higher cancellations threaten near-term durability. Margin recovery is fragile as incentives weigh on pricing power. 

Earnings quality is clouded by derivative volatility, and governance turnover elevates strategic uncertainty. Liquidity is adequate but pressured by rising inventory and leverage. Valuation signals market skepticism, offering contrarian upside if execution stabilizes, but pricing-in high risk today.

Nevertheless, UHG’s refreshed product mix and re-bid cost savings support structurally higher margins, offsetting discounting and demand softness. Southeast market exposure provides favorable long-term demographic tailwinds, while a growing community base and a land-light model enhance capital efficiency.

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

Shares of AmeriServ Financial have outperformed the Zacks Banks - Northeast industry over the past year (+14.1% vs. +1.5%). This microcap company with a market capitalization of $50.89 million is demonstrating strong earnings momentum, with YTD net income up 54% and EPS rising to 25 cents, driven by an 18% increase in net interest income and disciplined expense control. 

Liquidity surged to $53.8 million, eliminating short-term borrowings and highlighting a shift to stable, deposit-funded growth. Capital levels improved with equity rising to $114.6 million, aided by retained earnings and narrowing unrealized losses. The bank operates a high-quality securities portfolio, 76% rated AA or better, with manageable duration, providing resilience in varied rate environments. 

Despite these positives, rising credit losses, increased NPAs and CRE exposure raise asset quality concerns. A $12 million loan book contraction and declining non-interest income, notably in wealth management, point to growth headwinds. The stock trades at just 0.44X P/B vs. a 1.07X industry average. 

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

Other noteworthy reports we are featuring today include Agnico Eagle Mines Ltd. (AEM), Lennar Corp. (LEN) and Fox Corp. (FOXA).

Mark Vickery
Senior Editor

Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>

Today's Must Read

Expansion Efforts to Aid Bank of America (BAC) Amid Cost Woes

Digital Transformation and Acquisitions Aid Salesforce (CRM)

PepsiCo's (PEP) Focus on Productivity and Digital Progress Bode Well

Featured Reports

Sales Driving Business Plans Aid Lennar (LEN), Housing Weakness Hurts
Per the Zacks analyst, Lennar is gaining from its focus on the tech-enabled manufacturing platform and asset-light land strategy. However, ongoing housing weakness and macro risks are concerning.

Robust Adoption of Fox News and Sports Aids Fox (FOXA) Prospects
Per the Zacks analyst, Fox is benefiting from robust adoption of Fox News and Fox Sports. Strong demand for live programming is aiding ad revenue growth.

Smart Investments and Infrastructure Upgrades Aid NiSource (NI)
Per the Zacks analyst, NiSource will benefit from its long-term capital expenditure plan. The company's focus on clean energy will further boost its performance.

Strong Briumvi Sales Aid TG Therapeutics (TGTX) Amid Competition
Per the Zacks analyst, TG Therapeutics' sole drug, Briumvi, approved for relapsing forms of multiple sclerosis, is driving the top line. However, sole dependence on Briumvi for revenues is a woe.

OCS Strength Aids TransMedics (TMDX) as Policy and Legal Risks Rise
Per the Zacks analyst, TransMedics benefits from its OCS technology and expanding NOP logistics network. However, policy shifts and ongoing legal challenges may pressure volumes and margins.

High-Growth Basin Presence Aids USA Compression (USAC)
The Zacks analyst believes USA Compression Partners' strong presence in fast-growing basins positions it well to capture additional demand as production activity continues to rise.

Strong Subscriber Momentum Boosts Iridium (IRDM) Amid Tough Rivalry
Per the Zacks analyst, Iridium is gaining from higher subscribers, led by the growing uptake of its services in various sectors. Management remains wary of increasing rivalry in the satellite space.

New Upgrades

Growth Projects, Kirkland Buyout Aid Agnico Eagle (AEM)
Per the Zacks analyst, the company will benefit from investment in growth projects to expand output. The Kirkland Gold acquisition has also provided an extensive pipeline of exploration projects.

Growing Occupancy Level and Pricing Aid Universal Health (UHS)
Per the Zacks analyst, continued growth in occupancy will boost Universal Health's top line. Moreover, stronger managed care contracts will improve pricing and margins.

Strength in Energy Systems Segment to Benefit EnerSys (ENS)
Per the Zacks analyst, EnerSys' Energy Systems segment is driven by expansion of U.S. communications networks, fueled by AI-driven data demand. Its shareholder friendly measures are encouraging.

New Downgrades

Competition and Nil Dividend Payout Ails Clean Harbors (CLH)
Per the Zacks analyst, intense competition lowers Clean Harbors' pricing power, increases operational expenses, and reduces market share. A Nil dividend payout discourages dividend-seeking investors.

Pricing Pressure and Integration Risk Weigh on FactSet (FDS)
Per the Zacks analyst, pricing pressure acts as a major headwind for FactSet, lowering its top line and losing market share. Integration risk rises as it pursues a buyout as its growth strategy.

Helen of Troy (HELE) Remains Troubled by Reduced Demand
Per the Zacks analyst, Helen of Troy is facing challenges due to weakening consumer demand, tighter retailer inventory and ongoing inflationary pressures, which continue to pressure its sales.

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This article originally published on Zacks Investment Research (zacks.com).

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