2 Stocks That Raised Their Guidance in July

One thing that can often drive up a stock's value is an increase in guidance. And two companies that recently boosted their projections for the year are Novartis (NYSE: NVS) and PepsiCo (NASDAQ: PEP). Both businesses are showing strong growth despite inflation, and expect more of the same as 2023 rolls on. Are these stocks no-brainer buys given their outlooks, or have investors already been pricing in much of the growth ahead?

Drugmaker Novartis released its second-quarter earnings earlier this month. The company's Q2 revenue rose by 7% to $13.6 billion. Novartis also reported strong earnings per share (EPS) of $1.11, which was 44% higher than the $0.77 it posted a year earlier.

As a result of the encouraging performance through the first half of the year, management also bumped up its projections for the year, expecting the company's top line to generate high-single-digit growth, an increase over the mid-single-digit growth it previously projected. Novartis expects this growth to come from both its innovative medicines and Sandoz, its generic and biosimilar business it plans to spin off before the end of this year. Either way, Novartis is expecting a stronger year in 2023.

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Source Fool.com