Analysts Target Big Gains For These 2 FAANG Stocks

Netflix and Amazon stocks garnered new bullish price targets this morning

Oct 24, 2017 at 10:04 AM
facebook twitter linkedin

Analysts are weighing in on biotech Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN), TV streaming service Netflix, Inc. (NASDAQ:NFLX), and online retail giant, Inc. (NASDAQ:AMZN). Here's a quick roundup of today's bullish brokerage notes on shares of ALXN, NFLX, and AMZN.

Alexion Pharmaceuticals Stock Pops on FDA Drug Approval

Alexion Pharmaceuticals stock is up 4.5% to trade at $141.27, after the U.S. Food and Drug Administration (FDA) approved the biotech's muscle disorder drug Soliris. As a result, RBC upped its price target on ALXN to $166 from $161 -- territory the shares haven't visited since January 2016.

Other analysts are optimistic about the security's price action, too. Of the 16 brokerage firms following ALXN, 13 rate it  a "buy" or better, with not one single "sell" in sight.

Though the security touched a roughly three-year low of $96.18 in late May, it has since climbed roughly 46% to trade back above its 80-day moving average. The shares now boast a 10.5% year-to-date lead.

Cantor Fitzgerald Ups Netflix Stock Price Target

Shares of Netflix stock were last seen trading 0.6% higher at $193.71, after Cantor Fitzgerald raised its price target to $235 from $205 -- in uncharted territory. NFLX shares have surged the charts in 2017, adding roughly 56%. The security hit an all-time high of $204.38 one week ago, and there's room for more analysts to upwardly revise their outlooks for Netflix. Of the 34 brokerages covering the shares, 13 maintain a "hold" or "strong sell" rating.

Analyst Predicts Records Highs For Amazon Stock

Another FAANG stock on the rise this morning is Amazon, last seen up 0.3% at $969.27, after J.P. Morgan Securities boosted its price target to $1,180 from $1,175 -- a roughly 22% premium to current trading levels. AMZN shares have tacked on 29% this year, and hit a record high of $1,083.31 in late July.

The security's recent pullback from here was neatly contained by its 160-day moving average, and option bulls have been betting on a bigger bounce. Short-term speculators are especially call-skewed, based on the stock's Schaeffer's put/call open interest ratio (SOIR) of 0.95, which ranks in just the 9th percentile of its annual range.

Begin the New Year With Schaeffer's 7 FREE 2022 Stock Picks!



Special Offers from Schaeffer's Trading Partners