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PI

Impinj

$55.71

8.94 (19.11%)

, AMZN

Amazon.com

$987.71

23.54 (2.44%)

21:09
06/16/17
06/16
21:09
06/16/17
21:09

Impinj jumps after Amazon-Whole Foods announcement, Barron's says

Shares of Impinj (PI) surged during Friday trading after Amazon's (AMZN) announcement that it will acquire Whole Foods (WFM) for $13.7B due to a small connection between the RFID technology maker and Amazon, Barron's said. Impinj manufactures non-volatile-memory chips and radio frequency chips that are used in "tags" that can be attached to objects, and it also makes wireless scanning devices to read those tags at a distance, including for inventory management for groceries, the report pointed out. Barron's notes that Amazon is a member of "RAIN Alliance," a cooperative body that promotes RF tagging, though it is not yet clear if Amazon will utilize Impinj's technology. Reference Link

PI

Impinj

$55.71

8.94 (19.11%)

AMZN

Amazon.com

$987.71

23.54 (2.44%)

WFM

Whole Foods

$42.68

9.62 (29.10%)

  • 21

    Jun

PI Impinj
$55.71

8.94 (19.11%)

06/13/17
PIPR
06/13/17
NO CHANGE
Target $50
PIPR
Overweight
Impinj price target raised to $50 from $36.50 at Piper Jaffray
Piper Jaffray analyst Troy Jensen raised his price target for Impinj to $50 after spending time with CFO Evan Fein. The analyst believes the RAIN RFID market is progressing faster than previously anticipated with broad-based strength from new and existing customers. He raised his estimates to reflect 30% revenue growth through 2018 and keeps an Overweight rating on Impinj.
06/08/17
ADAM
06/08/17
NO CHANGE
Target $57
ADAM
Buy
Impinj price target raised to $57 from $38 at Canaccord
Canaccord analyst T. Michael Walkley raised his price target on Impinj to $57 from $38 as he believes the company should post several years of 25% plus revenue growth, driven by strong adoption of the RAIN ecosystem in leading IoT vertical markets such as retail and healthcare. Walkley reiterated his Buy rating on Impinj shares.
05/05/17
PACS
05/05/17
NO CHANGE
PACS
Impinj should be bought on any weakness, says Pacific Crest
Pacific Crest analyst Brad Erickson says that the reiteration of Impinj's 2017 guidance could cause a decline in the stock, and he recommends buying the stock on any weakness. He is impressed with the company's new contract wins and he thinks that the guidance is conservative. The analyst keeps a $40 price target and an Overweight rating on the shares.
04/20/17
PACS
04/20/17
NO CHANGE
PACS
Impinj has significant growth opportunity, says Pacific Crest
Pacific Crest analyst Brad Erickson says that checks with U.S. retailers indicate that there is "plenty of opportunity" for increased RFID penetration in the retail market. The firm's checks indicate that Kohl's is only using RFID on 10%-20% of items. Checks also indicate that retail downsizing is creating only "relatively minimal headwinds" for RFID, added Erickson, He thinks that Street estimates for Impinj are "conservative," and he says that it can grow significantly. The analyst keeps a $40 price target and an Overweight rating on the stock.
AMZN Amazon.com
$987.71

23.54 (2.44%)

06/16/17
06/16/17
DOWNGRADE

Neutral
Costco downgraded to Neutral from Conviction Buy at Goldman Sachs
As previously reported, Goldman downgraded Costco (COST) to Neutral from Conviction Buy and lowered its price target to $176 from $197. Analyst Matthew Fassler believes Costco's valuation will be capped due to Amazon's (AMZN) ongoing moves into consumables, online investments by Wal-Mart (WMT) and fading fundamental catalysts. He believes Amazon will offer superior pricing and delivery competency versus incumbents but does not anticipate meaningful erosion in warehouse business trends any time soon.
06/16/17
BARD
06/16/17
NO CHANGE
BARD
Wal-Mart, Costco weakness on Amazon news a buying opportunity, says Baird
Baird analyst Peter Benedict said he we views Amazon's (AMZN) deal to buy Whole Foods (WFM) as reinforcing the value of local distribution and he believes Wal-Mart (WMT) and Costco (COST) are particularly well positioned to compete in the omni-channel grocery market. The analyst, who recommends using today's weakness in those two stocks as a buying opportunity, keeps an Outperform rating on both, while maintaining a Neutral rating on Target (TGT), noting that he thinks today's news "raises the bar" on its need to find an effective strategy to turn its grocery business.
06/16/17
JEFF
06/16/17
NO CHANGE
Target $88
JEFF
Buy
Wal-Mart should be rallying on Whole Foods takeover, says Jefferies
Jefferies analyst Daniel Binder views the "knee-jerk" selloff in Wal-Mart (WMT) shares following Amazon's (AMZN) acquisition of Whole Foods (WFM) as overdone. The deal suggests having a store base in food "is important after all," Binder tells investors in a research note. Investors should be buying Wal-Mart today, not "taking it to the woodshed," the analyst argues. The company has roughly 4,500 points of distribution in food while Amazon just bought 461, Binder writes in a research note titled "Stores Are Important After All!." He recommends buying Wal-Mart on the weakness today and keeps a Buy rating on the name with an $88 price target. The retailing giant is down 5%, or $3.67, to $75.24 in afternoon trading.
06/16/17
PIPR
06/16/17
NO CHANGE
Target $1200
PIPR
Overweight
Piper reiterates $1,200 target on Amazon following Whole Foods deal
Piper Jaffray analyst Michael Olson believes the importance of Amazon's (AMZN) acquisition of Whole Foods (WFM) centers on the accelerations in its grocery strategy. Amazon's proximity to the U.S. consumer with grocery delivery range locations will increase from 20%-30% to near ubiquity, which "significantly" accelerates its grocery go-to-market, Olson tells investors in a research note titled "The Future of Grocery is Bright, Disruptive and Amazon's." Further, he believes Whole Foods' localized sourcing can "significantly improve" Amazon's grocery SKU quality. He reiterates an Overweight rating on Amazon with a $1,200 price target.
WFM Whole Foods
$42.68

9.62 (29.10%)

06/16/17
LEHM
06/16/17
UPGRADE
Target $48
LEHM
Overweight
Barclays upgrades Whole Foods on potential for bidding war
As previously reported, Barclays analyst Karen Short upgraded Whole Foods (WFM) to Overweight from Equal Weight and raised her price target on the stock to $48 from $38, telling investors that she would not be surprised to see a bidding war break out following Amazon's (AMZN) announcement of a takeover agreement. Short, who thinks a strategic retail buyer would generate up to $600M in synergies from a deal to buy Whole Foods, said bidders could include Kroger (KR), Target (TGT), and Wal-Mart (WMT), all of which may "have too much to lose not to bid."

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