Top Stock Reports for Cisco, Lam Research & Thermo Fisher

Wednesday, September 16, 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 Cisco Systems, Inc. (CSCO), Lam Research Corp. (LRCX) and Thermo Fisher Scientific Inc. (TMO), as well as two micro-cap stocks Ampco-Pittsburgh Corp. (AP) and Catalyst Bancorp, Inc. (CLST). 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 >>> Retail Sales, Imports Come In Warm Ahead of FOMC Decision

Today's Featured Research Reports

Cisco’s shares have outperformed the Zacks Computer - Networking industry over the past year (+65.9% vs. +64.3%). The company’s prospects are benefiting from broad demand across networking, security and collaboration. AI infrastructure orders, integrated silicon and an end-of-support refresh opportunity support a multi-year networking cycle, while newer security products and Splunk’s recovery broaden the growth base. 

Cisco also retains operating leverage and continues to return cash to shareholders. Offsetting these positives, a hardware-led revenue mix is expected to limit gross-margin expansion, while services recovery should remain gradual. 

Competition across networking and security still requires sustained product execution. Acquisition exposure and an elevated valuation leave less room for disappointment. The balanced mix of durable growth drivers and execution, margin and valuation risks supports the Neutral recommendation.

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

Shares of Lam Research have outperformed the Zacks Electronics - Semiconductors industry over the past year (+123.1% vs. +27.4%). The company is benefiting from AI-driven investment in memory, leading-edge foundry and advanced packaging. Rising process complexity is increasing demand for etch and deposition tools, while NAND conversions, advanced DRAM and larger packages expand its served market. 

Customer Support is scaling through upgrades, high utilization and early adoption of Equipment Intelligence and Dextro services. Record fiscal 2026 results, higher margin targets and a sizable September-quarter outlook reinforce execution. Cash generation and capital returns add support. 

However, equipment spending remains cyclical, China exposure is volatile, and export controls can disrupt demand. Competition, capacity limits and international exposure also remain risks. Overall, structural AI demand and rising technology content support the Outperform view.

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

Thermo Fisher’s shares have outperformed the Zacks Medical - Instruments industry over the past year (+36.2% vs. -0.5%). The company is gaining from improving customer activity across all end markets, continued share gains and disciplined execution of its growth strategy. Pharma and biotech demand is advancing, led by bioproduction, clinical research and the research and safety channel. 

Clario and the filtration and separation business are bolstering the company’s capabilities and supporting revenue synergies. New products, AI-enabled workflows and expanded customer collaboration centers reinforce its competitive position. 

Management raised its 2026 revenue and adjusted EPS outlook after better-than-expected second-quarter results. The Zacks Consensus Estimate projects 2026 EPS of $25.12 on revenues of $47.80 billion. Still, macroeconomic uncertainty, currency volatility, acquisition-related leverage and intense competition remain key risks.

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

Shares of Ampco-Pittsburgh have outperformed the Zacks Metal Products - Procurement and Fabrication industry over the past year (+211.6% vs. +5.9%). This microcap company with a market capitalization of $160.93 million sees its outlook supported by ALP’s exposure to nuclear power, defense, power generation and mission-critical HVAC, alongside improving FCEP profitability after footprint optimization. 

Stronger backlog, protective tariffs, improving FEP activity and better utilization in Sweden provide support for longer-term earnings and margin expansion. However, execution remains important as FCEP is exposed to steel-market cyclicality, product mix and utilization trends, while ALP must convert a growing backlog as capacity expands. 

Elevated leverage, weak cash conversion, working-capital needs and asbestos obligations constrain financial flexibility. Residual U.K. recovery uncertainty also remains a risk. Valuation suggests limited near-term upside, making sustained earnings growth, margin expansion and deleveraging important catalysts for improving investor returns.

(You can read the full research report on Ampco-Pittsburgh here >>>)

Catalyst Bancorp’s shares have outperformed the Zacks Banks - Southeast industry over the past year (+36.2% vs. +10.9%). This microcap company with a market capitalization of $72.29 million, with its July 2026 Lakeside acquisition more than doubling its asset, loan and deposit base, is creating a larger franchise with greater earnings potential if the November systems conversion proceeds smoothly. 

Funding trends are constructive, with deposits up 6% in the first half, lower deposit costs and a loan-to-deposit ratio of 82.9%. Credit quality also improved, as non-performing and past-due loans declined, supporting provision reversals. Net interest income rose 6.3% in the first half, aided by stronger securities income and growth in selected commercial categories. 

However, challenges include 12.1% growth in non-interest expenses, a weaker efficiency ratio and a 4.4% decline in organic loans. Margin compression and heavy real estate exposure also raise sensitivity to funding costs and property-market conditions. Shares trade at 32.58X price/earnings, above peers

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

Other noteworthy reports we are featuring today include Ameren Corp. (AEE), HF Sinclair Corp. (DINO) and Annaly Capital Management, Inc. (NLY).

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

Cisco (CSCO) Rides on Strong Networking Solution Demand

AI Chip Manufacturing Tool Demand Aids Lam Research's (LRCX) Prospects

End Market Strength, Strategic Buyouts Aid Thermo Fisher (TMO)

Featured Reports

Systematic Investments Aid Ameren (AEE) Amid Poor Liquidity
Per the Zacks analyst, Ameren makes systematic investments to maintain and upgrade the reliability of its infrastructure. Yet its poor financial ratios indicate weak liquidity position.

Tight refining markets support margin capture for HF Sinclair (DINO)
Per the Zacks analyst, favorable refining markets, asset optimization, renewable profitability and portfolio simplification support cash generation, flexibility and shareholder returns for DINO.

Portfolio Diversification Aid Annaly (NLY) Amid Stiff Competition
Per the Zacks Analyst, exposure to high-quality MBS, focus on residential credit business and MSR platform support Annaly's growth momentum. Yet, stiff competition remains a concern.

Cousins Properties (CUZ) Gains From Leasing Strength, Faces Debt Risks
Per the Zacks analyst, Cousins Properties benefits from strong office demand, leasing growth and higher occupancy. However, elevated leverage, interest expense and office-sector risks remain concerns.

Iovance's (IOVA) Marketed Drugs Drive Top Line Growth
The Zacks Analyst believes that demand for Iovance's lead product Amtagvi is strong. Potential approvals for the drug's expanded use in other indications can drive the company's long-term growth.

Acadia Healthcare's (ACHC) Behavioral Health Demand Aids, Costs Hurt
Per the Zacks analyst, strong behavioral health demand, capacity expansion and higher 2026 revenue guidance support growth, while rising costs and reimbursement risks remain concerns.

Lucid (LCID) Eyes Autonomy Upside Amid Margin Pressure
Per the Zacks analyst, Lucid sees autonomy growth potential through Uber, NVIDIA and Nuro, while deeply negative margins and cash burn remain key challenges to scaling profitability

New Upgrades

Owens Corning (OC) Benefits From Strong Roofing & Insulation Momentum
Per the Zacks analyst, Owens Corning gains from solid Roofing and Insulation performance, pricing discipline and manufacturing investments. Also, strong execution and liquidity support its outlook.

Herc Holdings (HRI) Benefits From Fleet Optimization & Cash Generation
Per the Zacks Analyst, scale, specialty growth, fleet optimization and disciplined cash generation support revenue resilience of Herc Holdings as acquisition benefits build through the rental cycle.

Strength in Metal Cutting Segment to Aid Kennametal (KMT)
Per the Zacks analyst, Kennametal's Metal Cutting unit is driven by share gains, higher aerospace build rates and project wins in energy end markets. Its shareholder friendly measures are encouraging.

New Downgrades

Qualcomm (QCOM) Plagued by Handset Cyclicality, Supply Chain Issues
Per the Zacks analyst, weakness in the smartphone market, supply chain constraints and cost increases across wafers, assembly, memory and other materials will likely impede Qualcomm's margins.

Soft Las Vegas Demand & High Costs Hurt Caesars' (CZR) Prospects
Per the Zacks analyst, Caesars' performance is being hurt by soft leisure demand in Las Vegas, leading to lower visitation, hotel rates and table play. Also, elevated operating costs are concerns.

Flowers Foods (FLO) Faces Volume Pressure as Bread Demand Softens
Per the Zacks analyst, Flowers Foods' weakening traditional bread demand could hinder revenue recovery and bakery network scale benefits. Total company volume fell 5.8% in the second quarter of 2026.

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

Zacks Investment Research