Analyst Upgrades: Amazon.com, Inc., GoPro Inc, and Comerica Incorporated

Analysts upwardly revised their ratings and price targets on Amazon.com, Inc. (AMZN), GoPro Inc (GPRO), and Comerica Incorporated (CMA)

Sep 16, 2016 at 9:22 AM
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Analysts are weighing in on e-tailer Amazon.com, Inc. (NASDAQ:AMZN), camera stock GoPro Inc (NASDAQ:GPRO), and financial firm Comerica Incorporated (NYSE:CMA). Here's a quick roundup of today's bullish brokerage notes on AMZN, GPRO, and CMA.

  • AMZN received price-target hikes at RBC (to $1,000) and Evercore ISI (to $1,015), both in record-high territory. The stock settled at $769.69 yesterday, up a healthy 14% year-to-date, and has been on a record-setting streak this month, hitting an all-time peak of $790.79 as recently as Sept. 7. It's no wonder, then, that 26 of 29 analysts tracking Amazon.com, Inc. have handed it a "buy" or better rating -- and why just 1.2% of the stock's float is sold short.
  • GPRO is up 3.8% ahead of the bell, after BofA-Merrill Lynch initiated coverage with a "buy" opinion and a $19 price target, hopeful about the company's new product cycle and revenue opportunities -- echoing earlier comments at Pacific Crest. Speaking of which, GoPro Inc recently confirmed it will launch its new Karma drone on Monday, capable of recording 4K resolution footage. Yesterday, the shares settled at $14.16, adding 64% since bottoming at a record low of $8.62 in mid-May. Additional upside could be had on a potential short-squeeze situation. Roughly 36% of GPRO's float is sold short, representing a week's worth of pent-up buying power, at the stock's typical daily volume.
  • Goldman Sachs upwardly revised its rating on CMA to "buy" from "neutral," added the stock to its "Americas Conviction" list, and bumped its price target by $3 to $52. The bullish note has the shares pointed 1.2% higher pre-market, after they settled Thursday at $46.66, and ready to extend their 2016 advance beyond 11.5%. Option bears could get burned on more upside at Comerica Incorporated. During the last 10 weeks at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), traders have bought to open 11.56 puts for every call -- a ratio that ranks just 3 percentage points from an annual peak.
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