There’s a lot to be optimistic about in the Services sector as 2 analysts just weighed in on Amazon.com, Inc. (AMZN) and Marinemax (HZO) with bullish sentiments.
Amazon.com, Inc. (AMZN)
In a report released today, Scott Devitt from Stifel Nicolaus reiterated a Buy rating on Amazon.com, Inc., with a price target of $2300. The company’s shares closed yesterday at $1902.25.
Devitt commented:
“We see the move as an important step in Amazon widening the convenience gap versus competitors, which have improved shipping capabilities in recent years. There will be an $800mm incremental cost associated with this transition in 2Q:19. As a result, Amazon is guiding operating income to $3.6B at the high end, which was below expectations. We reiterate our Buy rating and maintain our $2,300 target price .”
According to TipRanks.com, Devitt is a top 100 analyst with an average return of 22.2% and a 71.2% success rate. Devitt covers the Technology sector, focusing on stocks such as Lyft Inc Class A, Paypal Holdings, and Eventbrite Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Amazon.com, Inc. with a $2130.16 average price target, an 12.0% upside from current levels. In a report issued on April 12, RBC Capital also maintained a Buy rating on the stock with a $2300 price target.
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Marinemax (HZO)
B.Riley FBR analyst Eric Wold maintained a Buy rating on Marinemax today and set a price target of $25. The company’s shares closed yesterday at $15.76, close to its 52-week low of $15.57.
Wold said:
“Before the open on Thursday (4/25), MarineMax (HZO) reported 2Q19 results that came in well below expectations for overall profitability as the slower-than-expected start to the boat season and adverse weather impacted sales, while elevated expenses to drive demand and transition away from larger Sea Ray models impacted profitability. While we acknowledge that the miss and guide down by HZO only increases the uncertainty and investor concerns around the industry (as evidenced by the 20% decline in HZO shares on Thursday vs. -0.8% for Russell 2000), we remain optimistic that the delayed start to the season is just that and not a season missed —as the boat show season indicated solid underlying demand that we expect to materialize in registration data and financial results in the months/quarters ahead.”
According to TipRanks.com, Wold has 0 stars on 0-5 star ranking scale with an average return of -4.9% and a 38.7% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Marinemax with a $23.33 average price target.
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