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Zacks.com featured highlights Philip Morris International, Kroger, Expedia Group, Lyft and Agilent Technologies

For Immediate Release

Chicago, IL – January 31, 2023 – Stocks in this week’s article are Philip Morris International Inc. PM, The Kroger Co. KR, Expedia Group, Inc. EXPE, Lyft, Inc. LYFT and Agilent Technologies, Inc. A.

5 Stocks with Upgraded Broker Ratings for Solid Returns in 2023

As the year 2022 ended on a grim note, it’s time for investors to re-assess their portfolio and investment strategy for 2023. While the recent economic data point to some effectiveness of the Federal Reserve’s ultra-aggressive monetary tightening, we are still not out of the woods. The central bank is expected to keep interest rates high till inflation comes down reasonably.

This has made investors cautious, as higher rates will likely lead to a recession/economic slowdown this year. The bearish sentiments are leading to huge market volatility, making it difficult for individual investors to pick stocks independently and generate solid returns. One way to choose the right stocks in the current situation is to follow rating upgrades by brokers. In this regard, stocks like Philip Morris International Inc., The Kroger Co., Expedia Group, Inc., Lyft, Inc. and Agilent Technologies, Inc. are worth a look.

As brokers directly communicate with the top management, they have a deeper understanding of what is happening in a particular company. They meticulously assess companies’ publicly available documents and even attend conference calls.

Brokers have an extra understanding of the overall sector and industry. They place company fundamentals against the current economic backdrop to determine how a particular stock will fare as an investment.

Hence, when brokers upgrade a stock, you can rely on their judgment. But solely depending on broker upgrades is not a good way to build your investment portfolio. Several other factors should be taken into consideration to ensure steady returns.

Here are five of the 31 stocks that qualified for the screening:

New York-based Philip Morris manufactures and sells cigarettes, other tobacco products and other nicotine-containing products outside the United States. PM is also engaged in the development and commercialization of reduced-risk products, which generally are less harmful than cigarette smoking.

Philip Morris’ 2023 earnings are projected to grow 1.9%. The company, carrying a Zacks Rank #2 at present, has witnessed an 18.2% upward revision in broker ratings over the past four weeks.

Cincinnati, OH-based Kroger operates supermarkets under banners including Kroger, City Market, Dillons, Food 4 Less, Fred Meyer, Fry's, Harris Teeter, Jay C, King Soopers, Mariano's, Pick 'n Save, QFC, Ralphs and Smith's. Further, KR manufactures and processes certain food products sold in its supermarkets.

The company’s earnings for fiscal 2024 are expected to increase 1.9%. Kroger, currently sporting a Zacks Rank #1, has witnessed a 6.3% upward revision in broker ratings over the past four weeks.

Headquartered in Seattle, WA, Expedia is one of the largest online travel companies in the world. EXPE’s web portals focus on travel planning, travel purchases and travel experience sharing, thus bringing suppliers and consumers of travel-related services together.

Expedia’s 2023 earnings are projected to rise 23.8%. The company, sporting a Zacks Rank #1 at present, has witnessed a 5% upward revision in broker ratings over the past four weeks.

Lyft, based in San Francisco, CA, operates multimodal transportation networks in the United States and Canada. LYFT is a peer-to-peer marketplace for on-demand ridesharing.

Lyft’s 2023 earnings are projected to surge 120.3%. The company, carrying a Zacks Rank #2 at present, has witnessed a 3.4% upward revision in broker ratings over the past four weeks.

Palo Alto, CA-based Agilent was originally a spin-off from Hewlett-Packard. The company is an original equipment manufacturer of a broad-based portfolio of test and measurement products serving multiple end markets.

A’s earnings for fiscal 2023 are expected to increase 8.1%. Agilent, currently carrying a Zacks Rank #2, has witnessed an 8.3% upward revision in broker ratings over the past four weeks.

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The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.

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For the rest of this Screen of the Week article please visit Zacks.com at: https://www.zacks.com/stock/news/2046080/5-stocks-with-upgraded-broker-ratings-for-solid-returns-in-2023

Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.

About Screen of the Week

Zacks.com created the first and best screening system on the web earning the distinction as the "#1 site for screening stocks" by Money Magazine.  But powerful screening tools is just the start. That is why Zacks created the Screen of the Week to highlight profitable stock picking strategies that investors can actively use.

Strong Stocks that Should Be in the News

Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has more than doubled the market from 1988 through 2016. Its average gain has been a stellar +25% per year. See these high-potential stocks free >>.

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Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer. Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance  for information about the performance numbers displayed in this press release.

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

Philip Morris International Inc. (PM) : Free Stock Analysis Report

Agilent Technologies, Inc. (A) : Free Stock Analysis Report

The Kroger Co. (KR) : Free Stock Analysis Report

Expedia Group, Inc. (EXPE) : Free Stock Analysis Report

Lyft, Inc. (LYFT) : Free Stock Analysis Report

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