Today’s Research Reports on Stocks to Watch: Amazon and Target

NEW YORK, NY / ACCESSWIRE / June 5, 2018 / Retail giants Amazon and Target moved higher in Monday trading. Amazon got a price target increase from top analyst Youssel Squali at SunTrust, raising his price target to $2000. Target not too long ago got a reiterated “buy” rating from Bank of America Merrill Lynch analyst Robert Ohmes.

RDI Initiates Coverage on:

Amazon.com, Inc.
https://www.rdinvesting.com/report/?ticker=AMZN

Target Corporation
https://www.rdinvesting.com/report/?ticker=TGT

Amazon.com, Inc. shares saw a gain of 1.45% by the end of the closing day on Monday on mediocre trading volume compared to usual. According to Youssel Squali, a top analyst at SunTrust, Amazon shares may be heading to $2000. The analyst increased his price target from $1900 to $2000. Squali has said, “The company remains very early in building a sizable private label business, and as such, we expect growth in this segment to continue to outstrip overall ecommerce’s growth at Amazon.” The e-commerce giant’s Alexa may also soon be headed to join Cortana on Xbox One. According to Windows Central reports, an upcoming Xbox One software update will add support for Amazon Alexa as well as Google Assistant to Microsoft’s gaming console. Additionally TechCrunch has recently reported that Amazon has also led a funding round that raised $12 million in additional capital for Acko, a digital insurance startup company based in India.

Access RDI’s Amazon.com, Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=AMZN

Target Corporation shares closed up almost 5% at $76.35 on Monday with stronger trading volume than usual. In the last couple of weeks the retailer has been releasing announcements of initiating same day delivery in various parts of the U.S. It was also at the end of last month that Bank of America Merrill Lynch reiterated a “buy” rating on the stock and cited that demographic trends would benefit the company’s sales. The firm also added Target to its US1 top ideas list. Analyst Robert Ohmes wrote in a note, “We believe the company should benefit from the discount store cycle … given our view that TGT’s efforts to turn around its US business should accelerate in 2018 and result in market share gains longer-term. The Discount Store cycle that we expect to play out over the next 5-10 years [is] supported by … demographics as aging Millennials and Baby Boomers support growth of budget conscious consumers.” He also added, “We view valuation as compelling. We believe investors underappreciate the ability for Target to drive sustainable comps and return to EBIT [Earnings Before Interest & Taxes] growth in the back half of this year.” The firm has an $86 price target on the stock.

Access RDI’s Target Corporation Research Report at:
https://www.rdinvesting.com/report/?ticker=TGT

Our Actionable Research on Amazon.com, Inc. (NASDAQ: AMZN) and Target Corporation (NYSE: TGT) can be downloaded free of charge at Research Driven Investing.

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