Top Research Reports for Alphabet, Mastercard & AbbVie

Monday, September 28, 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 Alphabet Inc. (GOOGL), Mastercard Inc. (MA) and AbbVie Inc. (ABBV), as well as two micro-cap stocks Perma-Pipe International Holdings, Inc. (PPIH) and ImmuCell Corp. (ICCC). 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 >>> Big Week of Jobs & Inflation Data, Micron Earnings

Today's Featured Research Reports

Alphabet’s shares have outperformed the Zacks Internet - Services industry over the year-to-date period (+10.1% vs. +8.4%). The company’s AI-led product cycle is strengthening Search, Cloud and subscriptions, while broader enterprise adoption and flexible infrastructure models support long-term monetization. 

Search and YouTube remain durable cash generators, and Cloud is deepening customer relationships across AI, data and security. Alphabet’s differentiated silicon and long-term infrastructure contracts may improve returns on AI investment. These positives are offset by rising capital intensity, weaker free cash flow and a larger debt load. 

Advertising concentration, legal remedies and intense AI competition also create uncertainty around margins and returns. Higher infrastructure spending could weigh on near-term cash generation. With stronger Cloud economics balanced by investment and regulatory risk, the shares present an even risk-reward profile.

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

Shares of Mastercard have declined -0.1% over the year-to-date period against the Zacks Financial Transaction Services industry’s decline of -11.3%. The company’s rising rebates and incentives signal greater competitive pricing pressure, while merchant litigation and alternative payment rails could weaken network economics. A premium valuation leaves less room for execution setbacks. As such, we have a Neutral view.

Nevertheless, Mastercard benefits from the secular shift toward electronic payments, supported by a scalable, asset-light model that can convert rising transaction volumes into attractive incremental economics. Resilient consumer spending and cross-border demand provide revenue visibility, while growing value-added services broaden the earnings base beyond core payment processing. 

Strategic partnerships, acquisitions and expansion into emerging payment flows further extend its addressable market. Strong cash generation also supports continued reinvestment, acquisitions and shareholder returns.

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

AbbVie’s shares have outperformed the Zacks Large Cap Pharmaceuticals industry over the year-to-date period (+18.4% vs. +15.3%). The company has successfully navigated Humira's loss of exclusivity by launching two other successful immunology medicines, Skyrizi and Rinvoq, which are performing extremely well, bolstered by approvals in new indications, and should support top-line growth in the next few years. 

AbbVie’s neuroscience portfolio is also rapidly expanding and contributing significantly to top-line growth. AbbVie boasts a robust pipeline and expects key data readouts, regulatory submissions, and approvals over the next few months. 

AbbVie has been on an acquisition spree in the past couple of years to bolster its early-stage pipeline that should drive long-term growth. However, the company faces several headwinds like Humira LOE impact, slowing oncology sales and continued macro headwinds for Aesthetics.

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

Shares of Perma-Pipe International have gained +4.5% over the year-to-date period against the Zacks Steel - Pipe and Tube industry’s gain of +39.8%. This microcap company with a market capitalization of $260.11 million sees its backlog reach $143.2 million, with 40-50% expected to convert to revenue within 12 months. Second-quarter bookings of more than $67 million exceeded quarterly sales. Growth is being supported across MENA, Canada, leak detection and the Ohio facility, reducing reliance on a single market. 

Capacity ramps in Ohio and Qatar could improve fixed-cost absorption as utilization rises, while leak-detection bookings had already reached about 80% of the full-year target by the second quarter. First-half operating cash flow also improved to $13.3 million. 

Risks include gross-margin pressure from start-up costs, inflation, shipping expenses and project mix, along with higher customer concentration and receivable exposure. Foreign-exchange volatility, geopolitical tensions and trade-related costs could also create variability in results. The stock’s valuation is below peers on EV/sales basis. 

(You can read the full research report on Perma-Pipe International here >>>)

ImmuCell’s shares have outperformed the Zacks Medical - Products industry over the year-to-date period (+61.4% vs. -20.8%). This microcap company with a market capitalization of $90.14 million has its investment case supported by strengthening demand for its First Defense platform, particularly Tri-Shield, alongside rising producer adoption and market penetration. Manufacturing expansion should ease capacity constraints, shorten processing times and support scalable long-term growth. 

Yield improvements, better colostrum sourcing and tighter process discipline offer a path to stronger manufacturing economics. The company’s sharper focus on First Defense is also improving resource allocation by redirecting spending and existing infrastructure toward its core commercial franchise. 

Improving cash generation provides greater flexibility to fund capacity investments with less reliance on external financing. Meanwhile, continued U.S. commercial expansion offers additional growth runway, while international markets remain a longer-term opportunity.

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

Other noteworthy reports we are featuring today include Applied Materials, Inc. (AMAT), SAP SE (SAP) and Equinor ASA (EQNR).

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

Cloud & Search Initiatives Aid Alphabet (GOOGL) Amid Rising Capex

Mastercard's (MA) Accretive Buyouts Aid, Elevated Costs Hurt

AbbVie's (ABBV) Skyrizi, Rinvoq Key to Top-Line Growth

Featured Reports

Applied Materials (AMAT) Gains From Rising WFE Spending
Per the Zacks analyst, stronger wafer fab equipment spending across foundry-logic, DRAM and advanced packaging is supporting Applied Materials' revenue growth.

SAP Banks on Cloud & AI Strength Amid Global Macro Volatility
Per the Zacks analyst, SAP's performance is gaining from cloud momentum and expanding AI capabilities. Macro volatility keeps pressuring global trade and customer decisions.

AUM Growth Aids Ares Management (ARES) Amid Liquidity Woes
Per the Zacks analyst, Ares Management's expanding assets under management (AUM), driven by private credit and wealth management, supports long-term growth. Yet, weak liquidity remains a key concern.

ATI Benefits from Margin Expansion and Targeted Capacity Investments
Per the Zacks Analyst, productivity gains and favorable product mix are supporting margin expansion. Targeted investments in aerospace and defense capacity are expanding long-term growth potential.

Broad Hospital Demand Helps Baxter (BAX) Offset Tariffs & Rising Costs
Per the Zacks analyst, broad hospital demand, long-duration contracts, and differentiated surgery are aiding Baxter's top line, partially offsetting margin drag due to tariffs and manufacturing costs.

American Eagle (AEO) Drives Growth With Aerie and Cost Efforts
Per Zacks analyst, American Eagle is leveraging Aerie growth, digital and cost efficiencies to support sales momentum and improve profitability. Aerie and OFFLINE continue to broaden customer reach.

Liquidity Aids Innovative Industrial (IIPR), Tenant Concentration Ail
Per the Zacks analyst, Innovative Industrial gains from liquidity, leasing momentum and income from the IQHQ investment. However, tenant concentration and delayed cash flow recovery pressures persist.

New Upgrades

Equinor (EQNR) to Gain From NCS Longevity and Deep Resources
Per the Zacks analyst, Equinor's deep NCS resource base, low breakevens and expanding tieback pipeline support production longevity and strengthen visibility into its 2035 output targets.

AI-Powered Semiconductor Test Demand Aids Teradyne's (TER) Prospects
Per the Zacks analyst, Teradyne benefits from strong semiconductor test demand as customers accelerates production of a wide range of AI accelerators, networking, memory and power devices.

Keysight (KEYS) Rides on Strength in CSG Segment, Cash Flow Growth
Per the Zacks analyst, strong performance in wireline and wireless business, as well as continued momentum in the AI infrastructure vertical, will likely drive Keysight's top line.

New Downgrades

Regulatory and Retention Risks Could Weigh on NRG Energy (NRG)
Per the Zacks analyst, NRG Energy faces regulatory uncertainty and customer-retention risks. Execution challenges could affect margins, cross-selling opportunities and Smart Home contributions.

Ryanair (RYAAY) Continues to Grapple With High Fuel Costs
Per the Zacks Analyst, Ryanair trims its fiscal 2027 traffic forecast to 214 million passengers from 216 million as high unhedged fuel costs and rising expenses cloud its outlook.

KB Home (KBH) Struggles Amid Affordability Pressures
Per the Zacks analyst, high mortgage rates, affordability constraints and cautious buyers continue to weigh on KB Home. Softer orders, lower margins and reduced guidance cloud prospects.

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

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