Check out today's top analyst calls from around Wall Street, compiled by The Fly.
SHARES COULD BE WORTH $4,500-$5,000 LONG-TERM: Needham analyst Laura Martin initiated coverage of Amazon.com (AMZN) with a Buy rating and $3,200 price target. However, the analyst estimates that the company is worth between $4,500 and $5,000 per share over the long-term. Her "hidden value multiplier" investment thesis is based on Amazon's track record of elongating its growth runway by adding new market adjacencies with "enormous" total addressable markets that weren't visible three to five years prior to the investments. The profitability of its higher margin new businesses is masked by "Areas of Investment," which Amazon has a proven track record of turning into valuable businesses, the analyst contended.
'INTRIGUING' INVESTMENT OPPORTUNITY: Cowen analyst Jeffrey Osborne initiated coverage of Nikola (NKLA) with an Outperform rating and $79 price target as he sees it as an "intriguing investment opportunity." The company is leveraging a one truck platform, two power train options and three business segments, with "optionality" in powersports, pickups and autonomous vehicles, Osborne told investors in a research note. The analyst believes the company's partner ecosystem "derisks" the ramp in production in 2021. This approach is the opposite of Tesla (TSLA), who builds as much as possible in-house, Osborne noted. The analyst also sees the June 29 Badger details and reservation opening as a catalyst for the shares.
BUY AIRLINES: On Wednesday, Seaport Global analyst Daniel McKenzie initiated coverage of several airlines, namely
SUBSCRIPTION GROWTH: Canaccord analyst Maria Ripps initiated coverage of Stitch Fix (SFIX) with a Buy rating and $30 price target. The analyst noted that its 3.5M subscriber base continues to grow as the model appears to be working for consumers who are turning away from the less personal experience offered in brick-and-mortar outfits.
MOVING TO THE SIDELINES: Craig-Hallum analyst Per Ostlund downgraded Chembio Diagnostics (CEMI) to Hold from Buy with a price target of $8, down from $24. The analyst noted that on Tuesday, an FDA broadside came to light in the form of the revocation of Chembio's Emergency Use Authorization for its DPP COVID-19 system. New evaluations of the DPP system caused FDA to reverse course on the EUA originally granted April 16th, he added. Benchmark, Canaccord also downgraded the stock to Hold.
Amazon.com
+26.74 (+1.02%)
Nikola
+1.1 (+1.75%)
Tesla
+8.63 (+0.88%)
JetBlue
-0.31 (-2.52%)
American Airlines
-0.59 (-3.46%)
Southwest
-0.44 (-1.20%)
Spirit Airlines
-1.07 (-5.16%)
United Airlines
-1.14 (-2.84%)
Stitch Fix
-0.02 (-0.08%)
Chembio Diagnostics
-5.97 (-60.36%)