Top Analyst Reports for Philip Morris, Lockheed Martin & Danaher

Friday, February 20, 2026

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 Philip Morris International Inc. (PM), Lockheed Martin Corp. (LMT) and Danaher Corp. (DHR), as well as a micro-cap stock Zeo Energy Corp. (ZEO). 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 >>>

Ahead of Wall Street

The daily 'Ahead of Wall Street' article is a must-read for all investors who would like to be ready for that day's trading action. The article comes out before the market opens, attempting to make sense of that morning's economic releases and how they will affect that day's market action. You can read this article for free on our home page and can actually sign up there to get an email notification as this article comes out each morning.

You can read today's AWS here >>> Pre-Markets Dip on GDP & PCE Figures

Today's Featured Research Reports

Philip Morris’ shares have outperformed the Zacks Tobacco industry over the past six months (+7.1% vs. +6.3%). The company has been benefiting from strong pricing power and an expanding smoke-free portfolio. Philip Morris has been making significant progress with the smoke-free transition, with products like IQOS and ZYN contributing to strong performance and margin expansion. 

In the fourth quarter of 2025, Philip Morris' net revenues increased 6.8% year over year, driven by higher combustible tobacco pricing and increased smoke-free product volumes. Smoke-free products accounted for about 43% of total gross profit in full-year 2025. 

The company is also advancing cost-saving initiatives to support long-term goals. For 2026, adjusted earnings per share are likely to be $8.38-$8.53, up 11.1%-13.1% year-over-year. However, Philip Morris faces premium valuation, ongoing global cigarette volume declines and rising regulatory pressure.

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

Shares of Lockheed Martin have outperformed the Zacks Aerospace - Defense industry over the past six months (+51.3% vs. +14.6%). The company’s broad product offerings allow it to secure major defense contracts, which in turn boosts its backlog count. 

Lockheed Martin remains the largest U.S. defense contractor with a steady order flow from the Pentagon and other U.S. allies. Apart from enjoying a strong forte on the domestic front, Lockheed Martin’s products are also well-acclaimed in the international market. Increasing U.S. defense budget funding should boost its business. 

However, Lockheed is facing performance issues with some of its programs, which may result in significant losses. A labor shortage in the aerospace and defense industry may adversely impact its future operating results.

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

Danaher’s shares have gained +4.2% over the past six months against the Zacks Medical Services industry’s gain of +8.5%. The company’s strong momentum in bioprocessing, fueled by rising demand for consumables from pharmaceutical customers, is driving growth in the Biotechnology unit. Strength in the clinical diagnostics businesses bodes well for the Diagnostics segment. 

Danaher’s commitment to return value to its shareholders is encouraging. Benefits from acquired assets are driving the company’s performance of late. Through Danaher’s DBS initiatives, it has been able to reduce the impact of supply-chain constraints and inflationary pressures. 

However, the company is plagued by weakness in the Life Sciences segment. An increase in SG&A expenses may affect the margin performance. High debt levels may raise the company’s financial obligations and drain its profitability. Also, forex woes are weighing on Danaher's top line.

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

Shares of Zeo Energy have underperformed the Zacks Alternative Energy - Other industry over the past six months (-49.4% vs. +23.7%). This microcap company with a market capitalization of $56.82 million is facing risks, including credit losses and receivable exposure, related-party concentration and guarantees, amortization tied to acquired contracts, preferred securities increasing capital costs, seasonal installation volatility and ongoing share dilution that may cap per-share upside.

Nevertheless, Zeo Energy is entering an earnings inflection as improved pricing discipline and lower revenue costs drive margin expansion and positive EBITDA, establishing a higher operating baseline. Stronger unit economics enhance operating leverage and internal cash generation. 

The Heliogen acquisition expands the platform into commercial and industrial solar and storage, adding exposure to data center and grid demand while diversifying beyond residential. Geographic and sales force expansion further broadens the pipeline in 2026.

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

Other noteworthy reports we are featuring today include DoorDash, Inc. (DASH), Biogen Inc. (BIIB) and DuPont de Nemours, Inc. (DD).

Director of Research

Sheraz Mian

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

Philip Morris (PM) Benefits from Strong Smoke-free Revenues

Solid Orders Growth Aids Lockheed Martin (LMT), Amid Labor Shortage

Strong Biotechnology Segment to Aid Danaher, High Debt Ails

Featured Reports

Strong Orders and Marketplace GOV Benefits DoorDash (DASH)
Per the Zacks analyst, DoorDash is benefiting from strong total orders and Marketplace GOV, alongside enhanced logistics efficiency and an increasing contribution from advertising.

Biogen's (BIIB) Multiple Sclerosis Sales Fall, New Drugs Aid
Sales of multiple sclerosis drugs and Spinraza are declining due to competitive pressure. The Zacks analyst believes Biogen's new products like Leqembi, Skyclarys and Zurzuvae can help revive growth.

Strength in ddPCR Aids Bio-Rad (BIO), Macro Pressures Stay
The Zacks analyst is impressed with Bio-Rad solidifying its ddPCR portfolio with the Stilla acquisition and the launch of the QX700 platform. Yet, rising costs from macroeconomic woes is a concern.

WEX EV Depot Provides a Stable Revenue Base Amid High Debt
Per the Zacks analyst, WEX EV Depot provides stability to its top line on the back of its 10-year contract extension with Enterprise Fleet Management. Meanwhile, the debt burden is a concern.

Digital Investments Aid Liberty Global (LBTYA) Amid Stiff Competition
Per the Zacks Analyst, Liberty Global's digital infrastructure investments position it for AI data center growth. However, Virgin Media O2 faces intensifying U.K. broadband competition.

USA Compression's (USAC) Strategic Footprint Drives Growth Outlook
The Zacks analyst believes that USA Compression's presence in high-growth basins supports earnings visibility and demand, but high customer concentration presents risks.

Teladoc (TDOC) Gains From Buyouts, BetterHelp Unit Performance Hurts
Per the Zacks analyst, Teladoc's strategic acquisitions are enhancing distribution capabilities and service offerings. However, weak performance from BetterHelp business remain a concern.

New Upgrades

Productivity Actions, New Products Aid DuPont (DD)
Per the Zacks analyst, DuPont's cost and productivity improvement actions will support its margins. It should also gain from new product launches in high-growth markets.

Loan Growth and Strong Liquidity Position Aid Popular (BPOP) Financial
Per the Zacks analyst, Popular's solid commercial loan growth underscores its organic expansion. Further, its robust liquidity profile enables consistent capital distribution activities.

Robust Public Spending and Growth Strategy Aid Fluor's (FLR) Growth
Per the Zacks analyst, Fluor is gaining from elevated front-end activity, given the robust public spending environment. Also, the focus on the Building a Better Future strategy bodes well.

New Downgrades

Rising Expenses and Global Macro Uncertainty Weigh on Badger Meter
Per the Zacks analyst, higher SEA expenses due to SmartCover acquisition are dampening Badger Meter's prospects. It is also facing impacts from tariffs and trade-related costs.

Margin Pressure is Weighing on General Mills' (GIS) Performance
Per the Zacks analyst, General Mills has been facing margin pressure stemming from inflation and reinvestment. The company's gross and operating margins declined year over year in the second quarter.

Weak housing market Ail Builders FirstSource's (BLDR) Performance
Per the Zacks analyst, Builders FirstSource business is being hurt by the ongoing softness in the housing market. Also, High input costs and elevated operating expenses remain added concerns.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

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

Zacks Investment Research