Analyst Update: Amazon.com, Inc., Devon Energy Corp, and Relypsa Inc

Analysts revised their ratings and price targets on Amazon.com, Inc. (NASDAQ:AMZN), Devon Energy Corp (NYSE:DVN), and Relypsa Inc (NASDAQ:RLYP)

by Josh Selway

Published on Jun 7, 2016 at 2:17 PM

Analysts are weighing in on e-tail stock Amazon.com, Inc. (NASDAQ:AMZN), oil-and-gas stock Devon Energy Corp (NYSE:DVN), and drugmaker Relypsa Inc (NASDAQ:RLYP). Here's a quick roundup of today's brokerage notes on AMZN, DVN, and RLYP.

  • Ahead of the company's shareholders meeting tomorrow, DVN this morning received a price-target increase to $40 from $37 at Raymond James -- right in line with the stock's average 12-month price target of $38.66. Moreover, 82% of covering analysts recommend buying Devon Energy Corp. While the stock is still far removed from its year-over-year breakeven mark of $62.50, the shares have been strong recently, outperforming the S&P 500 Index (SPX) by 45 percentage points during the past three months. Today, DVN is up 3.4% at $38.84 on pace for its best close since Dec. 4. 
  • A downgrade to "underweight" from "equal weight" at Morgan Stanley has RLYP down 3.6% at $19.53 -- though the stock's 200-day moving average is holding up as support. It's been an up-and-down year for the stock, which currently sits 31% below breakeven in 2016. As such, short interest on Relypsa Inc still sits at all-time highs, with close to 15 million shares sold short. 

For other stocks in analysts' crosshairs, read Analyst Upgrades: Sodastream International Ltd, Sarepta Therapeutics Inc, and United Natural Foods, Inc. and Analyst Downgrades: Alexion Pharmaceuticals, Inc., WPX Energy Inc, and Godaddy Inc. 


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