Analyst Update: Amazon, Chesapeake Energy, SunEdison

Analysts adjusted their ratings on Amazon.com, Inc. (AMZN), Chesapeake Energy Corporation (CHK), and Sunedison Inc (SUNE)

Jul 7, 2015 at 2:00 PM
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Analysts are weighing in today on online retailer Amazon.com, Inc. (NASDAQ:AMZN), natural gas producer Chesapeake Energy Corporation (NYSE:CHK), and clean power company Sunedison Inc (NYSE:SUNE). Here's a quick look at today's brokerage notes on AMZN, CHK, and SUNE.

  • Yesterday, online retail pioneer AMZN announced that it will be extending massive savings to Prime members on its first ever Prime Day, coinciding with the company's 20th anniversary. Specifically, Amazon.com, Inc. stated that there will be "more deals than Black Friday." In the wake of the announcement, Cowen and Company raised its price target on the stock to $435 from $370 -- a healthy increase, but still below AMZN's session-opening price. In addition, the brokerage firm underscored a "market perform" rating. Investors weren't thrilled about this news, as the shares have slipped 0.8% to sit at $432.78, dropping along with the broader equities market. That said, the stock is still hovering near support from its 10-week moving average. 
  • CHK initially dropped amid broader weakness in the commodity sector and a price-target cut to $8 at Jefferies, hitting a six-year low of $9.94. However, the shares have since reversed higher, up 3.6% at $10.79. Pessimism seems to rule Chesapeake Energy Corporation's options pits, as its Schaeffer's put/call open interest ratio (SOIR) of 1.19 checks in at the 66th percentile of its annual range. Likewise, 24.7% of its float is sold short. 
  • SUNE made news when it announced that it, along with its TerraForm Power Inc (NASDAQ:TERP) unit, will buy Invenergy Wind LLC wind farms in North America for $2 billion. Today, Credit Suisse weighed in on the news, raising its target price on SUNE to $42 from $39 -- in territory not charted since 2008 -- and reiterating an "outperform" rating. SUNE has performed well in 2015, advancing more than 50%. There is a chance that a short-covering rally could help Sunedison Inc advance -- 31% of the equity's float is sold short. In addition, it would take nine days for the shorts to cover their bearish bets, at SUNE's average pace of trading.
 

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