Analysts revised their ratings and price targets on Amazon.com, Inc. (AMZN), Alibaba Group Holding Ltd (BABA), and Mattel, Inc. (MAT)
Analysts are weighing in on e-tailers Amazon.com, Inc. (NASDAQ:AMZN) and Alibaba Group Holding Ltd (NYSE:BABA), as well as toy stock Mattel, Inc. (NASDAQ:MAT). Here's a quick roundup of today's brokerage notes on AMZN, BABA, and MAT.
- Goldman Sachs raised its price target on AMZN to $900 from $790 -- in all-time-high territory. "We believe the risk/reward remains favorable as investments in web services, infrastructure, and logistics should result in additional share gains, cash flow growth, and continued high returns on investment," the brokerage firm wrote. Separately, Amazon.com, Inc. revealed its 2016 comedy pilot season lineup, and entered into a student loan partnership with Wells Fargo & Co (NYSE:WFC). That said, with a week to go before the company reports earnings, AMZN is down 0.1% at $744.79. Longer term, the stock has gained nearly 53% in the last 12 months, provoking bullish betting within the options crowd.
- BABA is off 0.7% at $83.81, despite a price-target hike to $114 from $100 at Credit Suisse. Since bottoming in February, though, the shares have been red-hot -- tacking on over 41%, and recently conquering the $82-$83 area. In fact, the stock yesterday notched its highest daily finish since late December. As a result, Alibaba Group Holding Ltd short sellers may be getting ready to abandon ship, which could add to the momentum. About 9% of the stock's float is sold short, representing over eight days' worth of pent-up buying power, at BABA's typical trading levels.
- Despite a narrower-than-forecast quarterly loss, as well as price-targets hikes to $36 at Jefferies and MKM Partners, MAT is down 1.5% at $32.34 -- not unlike this fellow toy maker's earnings reaction. Yet, on a year-to-date basis, the stock is up a market-beating 19%. In the options pits, short-term traders are fairly call-skewed at the moment. Mattel, Inc.'s Schaeffer's put/call open interest ratio (SOIR) weighs in at 0.69 -- below 71% of all other readings taken in the past year.
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