Schaeffer's Trading Floor Blog

Analyst Upgrades: AKAM, AMZN, and GRPN

Analysts upwardly revised their ratings on Akamai Technologies, Amazon.com, and Groupon

by 5/15/2012 9:09 AM
Stocks quoted in this article:

Analysts are weighing in today on content delivery issue Akamai Technologies, Inc. (AKAM - 29.66), online retailer Amazon.com, Inc. (AMZN - 222.93), and daily deals site Groupon, Inc. (GRPN - 11.73). Here's a quick roundup of today's bullish brokerage notes.

  • Janney upped its rating on AKAM to "buy" from "neutral," after the security on Monday tumbled through previous support in the $30-$31 area. AKAM is now sitting on a year-to-date loss of 8.1%, and analysts are pretty evenly split on the tech stock. Currently, the shares boast nine "buy" or better ratings, compared to 11 "holds." Ahead of the bell, AKAM has tacked on 2.2%, with the stock looking to reclaim its footing north of $30.

  • AMZN was upgraded to "outperform" from "neutral" at Credit Suisse, representing yet another bullish nod for the Kindle parent. Analysts have doled out 22 "buy" or better ratings on AMZN, along with 10 "holds" and zero "sells." The stock is up nearly 29% so far in 2012, but it has spent the past several weeks consolidating between $220 and $235. AMZN is on pace to bounce from the low end of that trading range, up 1.7% in pre-market action.

  • Following last night's well-received first-quarter report, GRPN has garnered a few bullish notes. Citigroup and Sterne Agee both raised their ratings to "buy" from "neutral," even as Citi trimmed its price target to $22 from $24. Meanwhile, Benchmark lowered its target to $20 from $28 and backed a "buy" recommendation, while Evercore Partners upped its target to $17 from $15 and reiterated its "overweight" opinion. GPRN is on track to gap higher with the opening bell, having surged 24.2% in electronic trading.

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