Top Research Reports for S&P Global, Cloudflare & Canadian Natural

Tuesday, September 15, 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 S&P Global Inc. (SPGI), Cloudflare, Inc. (NET) and Canadian Natural Resources Ltd. (CNQ), as well as two micro-cap stocks Star Group, L.P. (SGU) and Hour Loop, Inc. (HOUR). 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 >>> Gaming the Fed Odds for a Rate Hike Wednesday

Today's Featured Research Reports

S&P Global’s shares have outperformed the Zacks Securities and Exchanges industry over the past six months (+2.4% vs. -0.8%). The company maintain a Neutral recommendation on SPGI after the stock gained 2.7% over the past three months. Recurring benchmark revenues, rising AI adoption and targeted acquisitions support long-term growth, while the Mobility spin has sharpened the portfolio. 

Productivity gains are improving margins and buybacks and dividends support per-share returns. Offsetting these positives are an elevated cost base, sizable debt and current liabilities above current assets. Competition remains intense across ratings, market data and AI-enabled analytics. 

Market Intelligence is also being reset, with slower-growing platforms requiring disciplined execution. Durable franchises and better efficiency support the outlook, but financial and execution risks could limit near-term upside and keep the overall risk-reward balanced for investors.

(You can read the full research report on S&P Global here >>>)

Shares of Cloudflare have outperformed the Zacks Internet - Software industry over the past six months (+58.3% vs. +18.2%). The company is benefiting from enterprise demand for integrated security, networking and developer services as AI reshapes Internet traffic and application development. Large-customer expansion, higher net retention and broader Workers adoption support durable revenue growth, while multi-product contracts deepen platform use. 

Management’s raised 2026 outlook and positive free cash flow provide room to fund network capacity and product investment. However, gross-margin compression, intense competition, macro uncertainty and a major workforce restructuring create execution and profitability risks.

International exposure and a stretched valuation add further sensitivity if growth moderates. These offsetting factors leave the long-term opportunity attractive, but the risk-reward profile appears balanced at current levels.

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

Canadian Natural’s shares have gained +7.9% over the past six months against the Zacks Oil and Gas - Exploration and Production - Canadian industry’s gain of +10.4%. The company benefits from its diversified portfolio, strong production and low-cost, long-life assets. Its focus on liquids-rich projects, operational efficiency and export opportunities could support durable cash-flow generation. 

The company also maintains an attractive shareholder-returns while recent acquisitions may create further opportunities through operational synergies. However, significant exposure to oil sands creates sensitivity to commodity-price volatility and regulatory uncertainty.

Future growth also depends on adequate pipeline and export capacity, exposing the company to potential market-access constraints. Planned maintenance activity could temporarily weigh on production and earnings momentum, while ESG-related scrutiny may restrict valuation expansion, supporting a Neutral stance.

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

Shares of Star have gained +6.3% over the past six months against the Zacks Electronics - Miscellaneous Products industry’s gain of +10.9%. This microcap company with a market capitalization of $418.02 million has its investment case balance between consolidation opportunities and resilient profitability against structural customer and cost pressures. 

Star’s acquisition strategy can expand local density, customer reach and service cross-selling, while HVAC services diversify revenue and support retention. Hedging programs and solid liquidity provide added protection against weather, commodity and interest-rate volatility while preserving flexibility for acquisitions, debt reduction and capital returns. 

However, persistent customer attrition, energy conversions and weaker price-protected renewals could constrain organic growth. Elevated commodity costs may pressure working capital and margins, while insurance and service-cost volatility can limit operating leverage. Tariff uncertainty adds another layer of risk to costs and capital planning.

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

Hour Loop’s shares have gained +1% over the past six months against the Zacks Internet - Commerce industry’s gain of +12.6%. This microcap company with a market capitalization of $63.71 million is delivering strong growth, with second-quarter 2026 revenues rising 25.2% and orders up 19.4%, supported by higher order values. 

Hour Loop’s proprietary software, automated repricing and broad SKU base support scalable merchandising, while international revenues are expanding rapidly. Profitability remains intact, with first-half revenues growing faster than operating expenses and stockholders’ equity rising. The company also benefits from U.S. e-commerce expansion and its presence on Amazon’s dominant marketplace. 

However, the upside is tempered by weak cash flow, rising inventory, 2026 repayment obligations and heavy dependence on Amazon, which generates about 97% of revenues. Tariffs, platform-policy changes and intense competition could further pressure margins and liquidity. The shares trade at a steep EV/sales discount to peers, though EV/EBITDA remains elevated.

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

Other noteworthy reports we are featuring today include Exelon Corp. (EXC), Nordson Corp. (NDSN) and Lamar Advertising Co. (LAMR).

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

IHS Markit Buyout Aids S&P Global (SPGI) Amid Rising Costs

Cloudflare (NET) Benefits From Large-Customer Expansion

Canadian Natural (CNQ) to Gain from Oil Sands Mining and Upgrading

Featured Reports

Regulated Investment and Revenue Decoupling Aid Exelon (EXC)
Per the Zacks analyst, Exelon's planned $41.7B investment to strengthen transmission and distribution lines and revenue decoupling mitigates the impact of load fluctuation to boost its performance.

Industrial Precision Segment Aids Nordson (NDSN) Costs Ail
Per the Zacks analyst, Nordson's Industrial Precision Solutions segment is driven by growing demand for nonwoven and industrial coating product lines. However, high costs remain a woe.

Lamar Advertising (LAMR) Gains From Digital Growth and Local Ad Demand
Per the Zacks analyst, Lamar Advertising benefits from resilient local demand, digital growth and disciplined acquisitions. However, ad cyclicality, rate exposure and strong competition temper upside.

Molina Healthcare (MOH) Benefits From Medicaid Growth, Costs Weigh
Per the Zacks analyst, Molina Healthcare benefits from Medicaid and Medicare Duals growth. However, rising medical costs, membership pressure and regulatory uncertainty remain concerns.

Rising Loan Originations Aid Sallie Mae (SLM), High Expenses Persist
Per the Zacks analyst, Sallie Mae's strong focus on private student loans and rising loan originations aids long-term growth. Yet, rising compensation and benefits costs weigh on the bottom line.

Badger Meter (BMI) Gains from Solid Demand Trends & Buyouts
Per the Zacks analyst, BMI's increased adoption of the BlueEdge suite of solutions is driving utility water sales. Also, synergies from strategic acquisitions bode well.

PENN Entertainment (PENN) Gains on Retail Growth Amid Digital Risks
Per the Zacks analyst, PENN benefits from strong retail demand, improved cost control and narrowing Interactive losses. However, softer sportsbook volumes and online competition temper the outlook.

New Upgrades

BrightSpring (BTSG) Gains From Specialty, Infusion & Provider Growth
Per the Zacks analyst, BTSG benefits from strong specialty and infusion growth, Provider Services momentum and integration gains, while platform scale and efficiencies support margin expansion.

Magnolia (MGY) to Gain From WildFire Deal and Asset Expansion
The Zacks analyst believes that Magnolia's WildFire acquisition expands its Giddings acreage and oil-rich production base, while the deal is expected to boost per-share metrics and synergies by 2027.

Chefs' Warehouse (CHEF) Gains From Strong Organic Sales Growth
Per the Zacks analyst, Chefs' Warehouse's expanding customer relationships should support organic growth. Organic sales rose 12.2% in second-quarter 2026 after increasing 10.4% in the first quarter.

New Downgrades

Recent Pipeline Setbacks Hurt AstraZeneca's Growth Prospects
AstraZeneca has a diverse product portfolio. Yet, the Zacks analyst is concerned about several recent pipeline setbacks, including failures in Wainua, Etcamah and Ultomiris label expansion studies.

Technology Spending & Weak Overseas Profits Hurt Maximus (MMS)
Per the Zacks analyst, continued technology investment could constrain Maximus' margin gain from technology-driven improvements. The international segment remains a weak contributor to profitability.

Elevated SG&A Costs Weigh on Interparfums' (IPAR) Performance
Per the Zacks analyst, Interparfums is seeing higher SG&A costs. In Q2, SG&A rose 270 basis points to 51.2% of sales, due to higher brand marketing spending, royalty costs and logistics expenses.

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

Zacks Investment Research