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AMZN, AMD, TER...
11/4/2020 09:11am
Amazon, AMD upgrades among today's top calls on Wall Street

Check out today's top analyst calls from around Wall Street, compiled by The Fly.

BEST-POSITIONED E-COMMERCE STOCK: China Renaissance analyst Ella Ji upgraded Amazon.com (AMZN) to Buy from Hold with a price target of $4,000, up from $3,360. With its "industry-leading" user engagement, supply chain and logistics capacity, Amazon remains the best positioned e-commerce stock, Ji told investors in a research note. Further, the analyst believes Amazon Web Services offers a "layer of stability" as compares get tough in 2021. Ji sees the recent selloff in Amazon shares providing an "exceptional entry opportunity."

'COMPELLING OPPORTUNITY': Goldman Sachs analyst Toshiya Hari upgraded AMD (AMD) to Buy from Neutral with a price target of $96, up from $84, and added the shares to the firm's Conviction List. The 17% pullback in the stock since the September highs presents a "compelling opportunity" to participate in AMD's "multi-year share gain and margin expansion story," Hari told investors in a research note. The analyst thinks shares gains across the personal computer and server CPU markets, gross margin expansion, and operating expenditure leverage will drive above-consensus earnings growth.

Hari also upgraded Teradyne (TER) to Buy from Neutral with a price target of $107, up from $90, as he believes the recent compression in the stock's multiple presents an attractive entry point.

INFLECTION POINT: Barclays analyst Gregory Zhao upgraded Baidu (BIDU) to Overweight from Equal Weight with a price target of $170, up from $140. The online marketing services and new artificial intelligence initiatives of Baidu Core are reaching an inflection point, Zhao told investors in a research note. Further, since the second quarter, Baidu's marketing division has followed the online ad industry's recovery trend to gradually restore growth momentum, the analyst added.

ON THE SIDELINES: Goldman Sachs analyst Mark Delaney reinstated coverage of BorgWarner (BWA) with a Neutral rating and $36 price target. The analyst cited the company's recent Delphi acquisition, which he sees adding to its electric vehicle market exposure and boosting its earnings growth. Delaney warned, however, that some of the traditional OEMs have started to follow Tesla's (TSLA) vertical integration model in BEV powertrains, which could be a risk to BorgWarner.

BUY XPENG: Citi analyst Jeff Chung initiated coverage of Xpeng (XPEV) with a Buy rating and $34.70 price target. The analyst has a bullish view of the China new energy vehicle market and expects Xpeng will double its market share to 6% of China's battery electric vehicle sales by 2022. The company is making "rapid" progress in rolling out autonomous driving upgrades, Chung told investors in a research note.

The analyst also started coverage of Li Auto (LI) with a Neutral rating and $27 price target as he believes most of the positives are already priced into the shares. Nonetheless, Chung thinks Li will be a key beneficiary of rising extended range electric vehicle demand.

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