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AMZN

Amazon.com

$1,193.60

-2.23 (-0.19%)

, LULU

lululemon

$67.37

1.24 (1.88%)

12:08
11/29/17
11/29
12:08
11/29/17
12:08

Analyst sets $1,500 target on Amazon after e-commerce leader's biggest day ever

Amazon (AMZN) has confirmed that this past Cyber Monday was the company's single biggest shopping day worldwide in its history, surpassing Prime Day for most products ordered. Meanwhile, DA Davidson analyst Tom Forte raised his price target on Amazon to $1,500, citing rising confidence in the company's ability to leverage physical stores to maximize its long-term revenue growth. SALES RECORD: Amazon has announced that Cyber Monday was the single biggest shopping day worldwide in the company's history, and the biggest day ever for small businesses and entrepreneurs selling on Amazon. "Amazon customers shopped at record levels during the Turkey 5, ordering hundreds of millions of products from toys to fashion to electronics and Amazon devices," stated Jeff Wilke, CEO Worldwide Consumer. Throughout the five day period around the holiday, Amazon customers worldwide ordered at record levels, and Cyber Monday 2017 is now the single biggest shopping day in Amazon's history, surpassing Prime Day 2017. Additionally, the e-commerce giant said that with new lower prices on turkeys and Prime members receiving an even deeper discount this year, Whole Foods Market in the U.S. broke its all-time record of turkeys sold during the Thanksgiving season. Amazon also announced its best-ever holiday shopping weekend for devices, with millions of Amazon devices sold between Thanksgiving and Cyber Monday. Echo Dot and Amazon Fire TV Stick with Alexa Voice Remote were not only the best-selling Amazon devices, but they were the best-selling products from any manufacturer in any category across all of Amazon.com. TARGET TO $1,500: While acknowledging that Amazon has reported record holiday sales, DA Davidson's Forte told investors that he was focusing on the company's physical store efforts and raising his price target on the shares to $1,500 from $1,300. The analyst believes Amazon's increased physical footprint is "THE story of its 2017 holiday sales" and an indication of things to come as the company increasingly leverages physical stores to increase its revenue growth and wallet share. In the future, Forte believes the company will roll out its Amazon Go proprietary technology to enable consumers to skip the checkout counter for the portion of Whole Foods stores where consumers can purchase prepared foods, and consumers will be able to pick up online purchases and process returns at its Whole Foods locations. Additionally, the analyst told investors that he expects the e-commerce giant to leverage its Whole Foods locations with new efforts, such as an Amazon pharmacy, and sees the potential for Amazon to operate gas stations to enable consumers to save money on gas. Lastly, Forte noted that he looks for it to acquire an apparel retailer, such as lululemon (LULU), to add physical stores to advance its apparel sales, especially in women's apparel. He reiterated a Buy rating on Amazon shares. PRICE ACTION: In afternoon trading, shares of Amazon have dropped almost 4% to $1,146.57 amid broader weakness in the Nasdaq and the Internet space.

AMZN

Amazon.com

$1,193.60

-2.23 (-0.19%)

LULU

lululemon

$67.37

1.24 (1.88%)

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AMZN Amazon.com
$1,193.60

-2.23 (-0.19%)

11/29/17
WEDB
11/29/17
NO CHANGE
Target $32
WEDB
Underperform
Amazon allows deeper TV discounting at Best Buy, says Wedbush
Wedbush analyst Michael Pachter notes that online checks suggest that Best Buy (BBY) undercut Amazon (AMZN) on TV pricing throughout the Thanksgiving Holiday period, with deals continuing at Best Buy after Cyber Monday, while Amazon surprised him by raising prices. Additionally, the analyst believes Best Buy's Q4 comps guidance is more realistic, due to "Amazon's mercy." He reiterates an Underperform rating and $32 price target on Best Buy's shares.
11/29/17
RBCM
11/29/17
UPGRADE
Target $96
RBCM
Sector Perform
Wal-Mart upgraded to Sector Perform at RBC Capital on investment prospects
As reported earlier, RBC Capital analyst Scot Ciccarelli upgraded Wal-Mart (WMT) to Sector Perform from Underperform and raised his price target to $96 from $92. Ciccarelli says the company's earnings growth will remain suppressed by a multi-year investment cycle, but it will ultimately come out as a "true competitor" to Amazon (AMZN). The analyst says the rating change is specifically driven by recognition of Wal-Mart's progress in upgrading its store environment and labor model as well as the vast improvements made in its e-commerce capabilities which helped generate 13 consecutive quarters of positive comps and 12 quarters of positive traffic.
11/29/17
CLVD
11/29/17
NO CHANGE
CLVD
Henry Schein, Patterson mentioned cautiously at Cleveland Research
Cleveland Research made cautious comments regarding Amazon's (AMZN) headway into the dental industry, saying that its checks indicate that manufacturers are being more open to offer their full product lines to the e-commerce giant, which could pressure industry incumbents Henry Schein (HSIC) and Patterson (PDCO).
11/29/17
DADA
11/29/17
NO CHANGE
Target $1500
DADA
Buy
Amazon.com price target raised to $1,500 from $1,300 at DA Davidson
DA Davidson analyst Tom Forte raised his price target on Amazon (AMZN) shares to $1,500 from $1,300 after increasing his long-term sales forecast to a 9.8% CAGR from 8.6% based on his rising confidence in the company's ability to leverage physical stores to maximize its long-term revenue growth. Amazon's increased physical footprint, including its Whole Foods buy, book stores, and Kohl's (KSS) partnership, is "THE story of its 2017 holiday sales and an indication of things to come," Forte tells investors. The analyst, who thinks Amazon could another 1,000 plus physical locations and acquire an apparel retailer, such as lululemon (LULU), keeps a Buy rating on the e-commerce giant's shares.
LULU lululemon
$67.37

1.24 (1.88%)

11/27/17
KEYB
11/27/17
NO CHANGE
KEYB
Rapid erosion in physical stores may be abating, says KeyBanc
KeyBanc's research consumer team says that while online remains the key avenue for growth, the rapid erosion in physical store sales may be abating. The analyst noted that strong store checks reinforce their thesis that apparel is back, with the strongest traffic at Urban Outfitters (URBN) and lululemon (LULU). Meanwhile, Wal-Mart (WMT) was able to eschew wrist bands and had solid inventory of doorbusters, while Gap (GPS) saw strong traffic at Old Navy, they contend. Additionally, KeyBanc's team says its channel checks suggest Best Buy (BBY) continues to gain share and drove healthy traffic, while Bed Bath & Beyond (BBBY) offered slightly more aggressive, but still uninspiring, undifferentiated promotions. Moreover, they believe Conn's (CONN) maintains momentum with its credit offering, credit improvement story, and the recovery in the Hurricane Harvey impacted markets. Checks also revealed solid Beauty positioning, with Ulta Beauty (ULTA) as a winner with strong holiday positioning and good traffic on Thursday/Friday, the analysts added.
11/27/17
BOFA
11/27/17
NO CHANGE
Target $75
BOFA
Buy
lululemon price target raised to $75 from $70 at BofA/Merrill
BofA/Merrill analyst Rafe Jadrosich raised lululemon's price target to $75 from $70 saying Black Friday weekend store checks indicate "healthy" traffic with similar markdowns as prior years. The analyst said new fabric innovation is driving strong sell-through, which bodes well for 2018. Jadrosich rates lululemon a Buy.
11/29/17
STFL
11/29/17
NO CHANGE
Target $66
STFL
Hold
Investors anticipating solid report, guidance raise from lululemon, says Stifel
Stifel analyst Jim Duffy said he views lululemon CEO Laurent Potdevin's prior comments about being "energized" by the company's momentum entering the holiday season as a "de facto affirmation" of Q3 guidance and believes a solid report and modest fiscal year guidance increase is already being anticipated by the market. The analyst, who notes the company's easy comparisons in the first half but also the structural traffic headwinds across retail, keeps a Hold rating and $66 price target on lululemon shares.

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MET

MetLife

$51.41

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GM

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$40.95

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TCEHY

Tencent

$50.31

-0.231 (-0.46%)

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Alibaba

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AMZN

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Kayne Anderson MLP

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CSX

CSX

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CBOE

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DIS

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DIS

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ALK

Alaska Air

$70.83

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ONCE

Spark Therapeutics

$46.37

1.16 (2.57%)

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