- D.A. Davidson reiterates its Buy rating and raises its Amazon (NASDAQ:AMZN) price target from $1,500 to $1,800, which is a 33% upside on yesterday’s close and a new Street high.
- Analyst Tom Forte sees two catalysts in the next year: stronger-than-expected results from cloud computing and an increasing mix of profitable third-party sales, which passed 50% for the first time in Q2.
- More action: GBH Insights recommends Amazon, Alphabet (GOOG, GOOGL), and Facebook (NASDAQ:FB) ahead of earnings results next week based on this week’s strong performance from Netflix (NASDAQ:NFLX).
- Analyst Daniel Ives expects the rest of the FANG stocks to “continue the ‘beat and raise’ party next week by delivering stronger than expected earnings/2018 guidance."
- Ives rates all the names at Highly Attractive with the following price target increases: Amazon, $1,500 (was: $1,375; upside: 10.5%); Alphabet, $1,280 (was: $1,190; upside: 9%); Facebook, $225 (reiterated; upside: 21%).
- Amazon shares are up 0.5%.
- Google shares are up 0.4%.
- Facebook shares are up 0.4%.
- Now read: How Much Is Amazon Web Services Worth Now?
Original article