Analyst Update: Amazon.com, Inc., Apple Inc., and Juniper Networks, Inc.

Analysts revised their ratings and price targets on Amazon.com, Inc. (AMZN), Apple Inc. (AAPL), and Juniper Networks, Inc. (JNPR)

Jul 6, 2016 at 2:16 PM
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Analysts are weighing in on e-tail giant Amazon.com, Inc. (NASDAQ:AMZN), iPhone parent Apple Inc. (NASDAQ:AAPL), and tech stock Juniper Networks, Inc. (NYSE:JNPR)Here's a quick roundup of today's brokerage notes on AMZN, AAPL, and JNPR.

  • AMZN is 1% higher at $735.74 -- and earlier touched a record peak of $737.77 -- benefiting from a price-target hike to $775 from $710 at SunTrust Robinson. What's more, the online retailer said that sales since the "Brexit" vote have been "in line with expectations," and added that it intends on creating 1,000 jobs in the U.K. by year-end. Meanwhile, Amazon.com, Inc.'s bullish bandwagon has gotten crowded. Twenty-eight of 30 analysts consider the stock a "buy" or better, with not a single "sell" rating to be found. 
  • Based on a historical study on iPhone resale value and the upcoming iPhone 7 launch, Piper Jaffray believes AAPL is due to start outperforming. As such, the brokerage firm reiterated its "overweight" opinion and $153 price target -- in record territory for the shares, which were last seen 0.3% higher at $95.29. Separately, The Wall Street Journal reported the upcoming iPhone model will start at 32GB of storage instead of 16GB, boosting supplier Qorvo Inc (NASDAQ:QRVO). Although Apple Inc. is modestly higher this afternoon, it's been a long-term dud, giving back 24% on a year-over-year basis. This could put pressure on option bulls at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), where the stock has racked up a 50-day call/put volume ratio of 1.35. An unwinding of this optimism could create headwinds for AAPL stock.
  • JNPR has dropped 1% at $21.85, pressured by a downgrade to "hold" from "buy" at Deutsche Bank -- which likewise slashed its price target to $22 from $30. This leaves the shares a stone's throw from their annual low of $21.18, touched late last month. A capitulation among option bulls could exacerbate losses for Juniper Networks, Inc. During the past 10 days across the ISE, CBOE, and PHLX, traders have bought to open 3.17 JNPR calls for every put -- a ratio that outstrips nearly 70% of all others from the last 12 months.

For other stocks in analysts' crosshairs, read Analyst Upgrades: Kinross Gold Corporation, Newmont Mining Corp, and Royal Gold, Inc and Analyst Downgrades: Fiat Chrysler Automobiles NV, United Continental Holdings Inc, and Netflix, Inc.

 

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