Tuesday, July 7, 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 Amazon.com, Inc. (AMZN), Walmart Inc. (WMT) and American Express Co. (AXP), as well as two micro-cap stocks Natural Grocers by Vitamin Cottage, Inc. (NGVC) and Ampco-Pittsburgh Corp. (AP). 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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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 >>> Dow Trades at All-Time Highs in Pre-Market
Today's Featured Research Reports
Amazon.com’s shares have outperformed the Zacks Internet - Commerce industry over the past year (+12.8% vs. +2.5%). The company’s international expansion and diversification across e-commerce, AWS cloud services, advertising and streaming create multiple revenue streams while reducing concentration risk.
For 2Q’26, AMZN guided net sales of $194-$199 billion and operating income of $20-$24 billion. AI integration across operations enhances personalization, logistics and AWS offerings, strengthening competitive positioning. Shares have outperformed the industry in the past year.
However, capital expenditure requirements for AI infrastructure and data centers strain financial resources and compress margins, with trailing-12-month free cash flow decreasing to $1.2 billion. The company’s expanding debt burden reduces financial flexibility amid rising interest rates. Intensifying competition from Walmart, Microsoft Azure, and Google Cloud is an overhang.
(You can read the full research report on Amazon.com here >>>)
Shares of Walmart have outperformed the Zacks Retail - Supermarkets industry over the past year (+17% vs. +12.9%). The company remains well positioned due to its scale, value proposition and expanding omnichannel ecosystem. The company’s store network supports fast fulfillment, convenient pickup and delivery, and stronger digital engagement.
Marketplace, advertising and membership are becoming more important profit drivers, helping diversify earnings beyond traditional retail and improve the business mix. Investments in automation and AI should enhance customer experience, efficiency and long-term productivity.
Strong traffic, broad assortment and price leadership also create opportunities to expand higher-margin services over time. While fuel costs, currency movements, policy uncertainty and elevated investments may affect near-term profitability, Walmart’s focus on execution, digital expansion and ecosystem growth supports a favorable long-term outlook.
(You can read the full research report on Walmart here >>>)
American Express’ shares have outperformed the Zacks Financial - Miscellaneous Services industry over the past year (+13.4% vs. -22%). The company is benefiting from strong spending growth, particularly from Millennials and Gen Z, supported by experience-driven rewards, travel and dining platforms, and expanding digital capabilities. Strategic acquisitions and partnerships across travel, lifestyle, and small-business ecosystems further strengthen engagement and transaction volumes.
AI Investments, digital payments, and B2B solutions are also enhancing long-term growth prospects. It returned $2.3 billion to shareholders in Q1 2026 through dividends and buybacks. AXP has outperformed its industry over the past year.
However, rising expense intensity, elevated credit-loss provisions amid weakening consumer credit trends, and relatively high leverage could pressure margins and earnings stability if macro conditions remain challenging. We reiterate a Neutral stance on the stock.
(You can read the full research report on American Express here >>>)
Shares of Natural Grocers by Vitamin Cottage have outperformed the Zacks Food - Natural Foods Products industry over the past six months (+38.5% vs. +23.2%). This microcap company with a market capitalization of $765.18 million is supported by resilient operating performance, with positive comparable sales growth, rising loyalty program penetration and continued earnings growth despite a cautious consumer environment.
Natural Grocers by Vitamin Cottage offers a compelling long-term growth story through disciplined store expansion, a flexible small-format model and a targeted 4-5% annual unit growth rate. An expanding portfolio of more than 900 exclusive private-label products, ERP-driven operational efficiencies and robust cash generation strengthen its competitive position and provide financial flexibility to fund growth initiatives and dividends.
However, key risks include softer consumer spending on premium organic products, rising technology and expansion costs, supply-chain and organic sourcing constraints, and intensifying competition from larger retailers. The stock trades at 0.56X trailing 12-month EV/sales.
(You can read the full research report on Natural Grocers by Vitamin Cottage here >>>)
Ampco-Pittsburgh’s shares have outperformed the Zacks Metal Products - Procurement and Fabrication industry over the past six months (+39.8% vs. -2.3%). This microcap company with a market capitalization of $162.21 million has its investment thesis supported by its shift toward higher-value infrastructure markets, with ALP benefiting from sustained demand across nuclear energy, defense, power generation and mission-critical industrial applications.
Portfolio rationalization and footprint optimization should improve utilization, margins and earnings quality, while favorable tariff dynamics, reshoring trends and industry consolidation create market share opportunities.
Yet execution remains critical as AP must improve profitability in its core FCEP business and convert backlog into sustainable cash flow. Elevated leverage and asbestos liabilities remain overhangs. The valuation suggests investors continue to discount execution and balance-sheet risks despite improving fundamentals, offering upside if operational recovery, margin expansion and deleveraging progress as expected.
(You can read the full research report on Ampco-Pittsburgh here >>>)
Other noteworthy reports we are featuring today include Targa Resources Corp. (TRGP), IQVIA Holdings Inc. (IQV) and NiSource Inc. (NI).
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
Amazon (AMZN) Rides on Prime & AWS Amid Rising Competition
Walmart (WMT) Gains From Advertising & Membership Businesses
AmEx (AXP) Gains From Strong Card Member Spending Despite Rising Costs
Featured Reports
Targa (TRGP) to Benefit from strong global demand for U.S. LPG
The Zacks analyst notes that strong global demand for U.S. liquefied petroleum gas exports supports marketing optimization at Targ's export facilities, but elevated debt remains a concern.
Global IT Infrastructure Benefits IQVIA (IQV), Liquidity Low
Per the Zacks Analyst, IQVIA's strong healthcare-specific global IT infrastructure places it firmly in the life sciences space. Low liquidity remains a concern.
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.
Transient Deman, Steady Group Business Aid Host Hotels (HST)
Per the Zacks analyst, Host Hotels' strong transient-leisure demand and steady group business support growth. However, rising wage costs pressure margins, while competition limits rate growth.
Norwegian Cruise (NCLH) Gains From Premium Demand and Cost Savings
Per the Zacks analyst, Norwegian Cruise is benefiting from premium brand demand, fleet expansion, private destination enhancements, commercial upgrades and cost-saving initiatives, supporting growth.
Cost Control Efforts Aid Lazard (LAZ) Amid Concentration Risk
Per the Zacks analyst, Lazard's cost-containment initiatives under its "Lazard 2030" plan are expected to improve profitability. Yet, heavy reliance on financial advisory revenues remains a concern.
Steven Madden's (SHOO) Brand Strength and DTC Momentum Support Growth
Per the Zacks analyst, Steven Madden benefited from strong brand demand, healthy DTC momentum and effective marketing execution. U.S. DTC comp sales increasing 17% in the first quarter.
New Upgrades
Zillow (ZG) Rides on Strength in Multiple Segments, Macro Tailwinds
Per the Zacks analyst, solid momentum in the Rentals and Residential business will likely drive Zillow's top line. A decline in mortgage rates is a tailwind.
Key Defense Priorities, Diversified Contract Backlog Aid Mercury (MRCY)
Per the Zacks analyst, a diversified contract backlog enhances revenue visibility, while alignment with key defense priorities positions Mercury for sustained growth in the near-term.
Novavax's (NVAX) Sanofi Partnership Strengthens Growth Outlook
Per the Zacks Analyst, the Sanofi partnership, Matrix-M licensing opportunities and ongoing cost reductions strengthen Novavax's long-term growth prospects.
New Downgrades
High R&D & Capex to Limit Margins & FCF of Toyota (TM)
Toyota's heavy spending on innovation and capacity expansion is likely to pressure profitability and cash generation, per the Zacks analyst.
Revvity's (RVTY) Growth Outlook Faces Chinese Pressure and Margin Risk
As per the Zacks analyst, Revvity's growth outlook is supported by diagnostics and software momentum, but Chinese pressure and margin risks may weigh on near-term performance.
TransMedics (TMDX) Battles Legal Scrutiny Amid Margin Headwinds
Per the Zacks Analyst, TransMedics' growth initiatives are overshadowed by legal scrutiny, reimbursement uncertainty and margin pressure, posing risks to execution despite expansion efforts.
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Amazon.com, Inc. (AMZN): Free Stock Analysis Report
NiSource, Inc (NI): Free Stock Analysis Report
Walmart Inc. (WMT): Free Stock Analysis Report
American Express Company (AXP): Free Stock Analysis Report
Ampco-Pittsburgh Corporation (AP): Free Stock Analysis Report
Natural Grocers by Vitamin Cottage, Inc. (NGVC): Free Stock Analysis Report
Targa Resources, Inc. (TRGP): Free Stock Analysis Report
IQVIA Holdings Inc. (IQV): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).