Analyst Upgrades: Amazon.com, Inc., Google Inc, and Oshkosh Corporation

Analysts upwardly revised their ratings on Amazon.com, Inc. (NASDAQ:AMZN), Google Inc (NASDAQ:GOOGL), and Oshkosh Corporation (NYSE:OSK)

Aug 26, 2015 at 9:08 AM
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Analysts are weighing in on e-commerce concern Amazon.com, Inc. (NASDAQ:AMZN), tech titan Google Inc (NASDAQ:GOOGL), and aerospace issue Oshkosh Corporation (NYSE:OSK). Here's a quick roundup of today's bullish brokerage notes on AMZN, GOOGL, and OSK.

  • It's been a rough ride for AMZN -- particularly during the past week -- since the stock topped out at an earnings-induced record high of $580.57 in late July, down 20% at $466.37. However, the shares appear to have found a foothold atop their rising 80-day moving average, and remain up 50% year-to-date. Evercore ISI is keeping the faith, and this morning raised its rating on AMZN to "buy" from "hold," explaining, "We continue to appreciate Amazon's leading scale and opportunity for margin expansion within two large and growing addressable markets: Online Retail and Cloud." Additionally, the brokerage firm waxed optimistic on AMZN's higher-margin Amazon Web Services.

    Option traders, meanwhile, have been bracing for a steeper pullback, and at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the equity's 10-day put/call volume ratio of 1.04 ranks in the 88th annual percentile. In other words, Amazon.com, Inc. puts have been bought to open over calls at a faster clip just 12% of the time within the past year. AMZN is pointed 3.6% higher ahead of the bell.

  • GOOGL is up 4.1% in electronic trading, after the stock earned a spot on Goldman Sachs' coveted "conviction buy" list. Additionally, the brokerage firm upped its outlook to "buy" from "neutral," and raised its price target to $800 from $660 -- never-before-seen territory. Specifically, Goldman Sachs said the stock's recent sell-off is due mostly to broad-market headwinds, and that GOOGL is in the early stages of a multi-year margin-expanding cycle. In addition, the company's new operating structure was applauded by Wall Street.

    While analysts have been upping the bullish ante on Google Inc in recent weeks, the door is wide open for option traders to change their tune. In fact, GOOGL's 10-day ISE/CBOE/PHLX put/call volume ratio of 0.68 sits higher than 83% of all similar readings taken in the past year. An unwinding of these bearish bets could translate into tailwinds for the stock.

  • OSK is poised for an 8% pop out of the gate, after news the company won a multi-billion-dollar defense contract was met with a price-target hike to $51 from $46 at Baird. The stock could certainly use the boost, considering it's shed more than one-fifth of its value in 2015, and tagged at two-year low of $32.56 last month. In spite of these technical struggles, optimism has remained high on Oshkosh Corporation. No fewer than 60% of analysts maintain a "buy" or better rating on the equity. Plus, the average 12-month price target of $43.19 stands at a healthy 12.4% premium to last night's close at $38.52, though the target could be surpassed out of the gate.

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