In a report published Tuesday, MKM Partners analysts initiated coverage on Amazon.com, Inc. (AMZN) with a ‘Buy’ rating and $800 price target, noting continued investments mask the earnings power potential of the retail opportunity. MKM believes this business is structurally more efficient and should be able to deliver long-term margins better than traditional retail.
In the past 52 weeks, shares of Seattle, Washington-based e-commerce giant have traded between a low of $285.25 and a high of $684.82 and are now at $667.50. Shares are up 114.08% year-over-year and 111.99% year-to-date.
Analysts at HSBC Securities upgraded their rating on the shares of Potash Corporation of Saskatchewan Inc. (POT). In a research note published on Tuesday, the firm lifted the name with a ‘Buy’ from ‘Hold’ rating.
Currently there are 7 analysts that rate POT a ‘Buy’, 14 rate it a ‘Hold’. Two analysts rate it a ‘Sell’. Potash has a median Wall Street price target of $23 with a high target of $33.
Amgen Inc. (AMGN) was raised to ‘Overweight’ from ‘Equal-Weight’ at Morgan Stanley (MS) on Tuesday.
AMGN is up $4.85 at $162.96 on heavy volume. Midway through trading Tuesday, 3.08 million shares of Amgen Inc. have exchanged hands as compared to its average daily volume of 2.98 million shares. The stock has ranged in a price between $161.52 to $164.45 after having opened the day at $161.65.
Symantec Corporation (SYMC) was upgraded to ‘Overweight’ from ‘Equal-Weight’ by Morgan Stanley analysts on Tuesday.
The stock began trading this morning at $20.25 to currently trade 4.04% higher from the prior days close of $19.54. On an intraday basis it has gotten as low as $19.96 and as high as $20.37.
Symantec shares have declined 0.77% in the last 4 weeks and 1.12% in the past three months. Over the past 5 trading sessions the stock has lost 2.98%. The Mountain View, California-based company, which is currently valued at $13.73 billion, is down 20.54% year-over-year, compared with a 2.49% gain in the S&P 500.
Akebia Therapeutics, Inc. (AKBA) was reiterated a ‘Buy’ by Needham analysts on Tuesday. The broker raised its price target on the stock to $18 from $14. AKBA was also raised to $25 from $24 at H.C. Wainwright.