Analyst Upgrades: Amazon.com, Inc., Amkor Technology, Inc., and Goldcorp Inc.

Analysts upwardly revised their ratings and price targets on Amazon.com, Inc. (AMZN), Amkor Technology, Inc. (AMKR), and Goldcorp Inc. (USA) (GG)

Aug 2, 2016 at 9:19 AM
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Analysts are weighing in on internet retailer Amazon.com, Inc. (NASDAQ:AMZN), tech stock Amkor Technology, Inc. (NASDAQ:AMKR), and gold miner Goldcorp Inc. (USA) (NYSE:GG). Here's a quick roundup of today's bullish brokerage notes on AMZN, AMKR, and GG.

  • MKM Partners lifted its price target on AMZN to $995 from $850. The bullish note is well deserved, considering the stock hit a record high of $770.50 yesterday before settling at $767.74, and is up a cool 13.6% year-to-date. Speaking more generally, Amazon.com, Inc.'s bullish camp is getting crowded, with 26 of 28 analysts handing out "buy" or better ratings, compared to a pair of "holds" and not a single "sell" recommendation.

  • AMKR is pointed 14% higher pre-market, after the firm's surprise second-quarter profit and upbeat outlook prompted price-target hikes at Deutsche Bank and Credit Suisse, to $7.80 and $7.50, respectively. As such, the stock -- which settled Monday at $6.45 -- could open at a new annual high. If this plays out, a short-squeeze situation could ensue. Right now, at Amkor Technology, Inc.'s average daily trading levels, it would take almost seven sessions for short sellers to cover their positions.

  • GG has picked up 1.8% ahead of the open, boosted by an "overweight" initiation at Barclays. However, Citigroup sounded a more cautious note, assuming coverage with a "neutral" assessment and a $20 price target -- not far from last night's close of $18.08. In the options pits, traders have been wagering on extended gains for Goldcorp Inc., which has already picked up 56.4% year-to-date -- ushered higher by its 80-day moving average. Across the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), GG's 10-day call/put volume ratio of 5.38 ranks in the bullishly skewed 79th annual percentile.
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