Baird analyst Colin Sebastian was out pounding the table on Amazon.com, Inc. (NASDAQ:AMZN) Friday, reiterating an Outperform rating with price target of $710, which implies an upside of nearly 19% from current levels.
Sebastian wrote, “Following Amazon’s air cargo partnership with ATSG, we believe it timely to revisit our October report, which outlined a hypothetical expansion into transportation and logistics. Now that Amazon has largely confirmed our suspicions, this updated analysis focuses on financial impact and strategic roadmap. We continue to believe that Amazon is developing its own global transportation and logistics infrastructure, and while there may be near-term margin headwinds, longer-term these initiatives could help improve unit economics and provide incremental revenue.”
Bottom line: “While Amazon did not rank among our top picks for 2016, we are more constructive at current levels/pullbacks, and continue to recommend longer-term oriented investors build positions given Amazon’s multiple large market opportunities in retail, media, technology and logistics.”
According to TipRanks.com, analyst Colin Sebastian has a yearly average return of 16% and a 70% success rate. Sebastian has a 32.5% average return when recommending AMZN, and is ranked #33 out of 3840 analysts.
Out of the 46 analysts polled by TipRanks, 40 are bullish on Amazon stock, while 6 remain on the sidelines. With a return potential of 23%, the stock’s consensus target price stands at $735.92.
Micron Technology, Inc.
Baird analyst Tristan Gerra reiterated a Neutral rating on shares of Micron Technology, Inc. (NASDAQ:MU), while reducing the price target to $12 (from $13), after another fairly disappointing quarterly result and outlook, as Micron reported weaker-than-expected revenues and guided below consensus for the sixth consecutive period.
Gerra commented, “Reiterating Neutral rating on our expectation for EPS losses through the Feb Q, as we expect DRAM to remain in overcapacity for the rest of the calendar year. We believe Samsung’s 18nm DRAM is ready and will launch sometime this year, further pressuring DRAM pricing. We also expect Samsung to pressure NAND pricing this year on 3D NAND cost down action.”
Analyst Tristan Gerra has a total average return of 10% and a 59% success rate. Gerra has a -8.4% average return when recommending MU, and is ranked #472 out of 3775 analysts.
Tesla Motors Inc
In a research report issued Friday, Baird analyst Ben Kallo reiterated an Outperform rating on shares of Tesla Motors Inc (NASDAQ:TSLA), with a price target of $300, after the company unveiled working prototypes of its highly-anticipated Model 3, which is designed to be a mass-market sedan offered at a starting price of $35k.
Kallo noted, “The Model III remains on schedule for late-2017 deliveries and the base vehicle features were better than expected. Additionally, the vehicle did not look too complex in comparison to the Model S/X, which should allow for an easier production ramp. Importantly, initial reservations in the first 24 hours were >100k vehicles, which greatly exceeded our expectations. We would be aggressive buyers at current levels.”
“Next catalyst is the Q1 delivery numbers which should be released in the near term. Additionally, we expect an update on the Model X production ramp on the Q1 earnings call,” the analyst added.
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Ben Kallo has a total average return of 6.8% and a 52% success rate. Kallo has a 22.9% average return when recommending TSLA, and is ranked #494 out of 3840 analysts.