Today’s Research Reports on Stocks to Watch: Amazon and Target Corporation
NEW YORK, NY / ACCESSWIRE / January 10, 2018 / Shares of Amazon hit a new high on Tuesday after a Piper Jaffray price target increase. Toyota also announced that it would be incorporating Alexa into some of its Toyota and Lexus cars this year. Shares of Target also soared yesterday after the company upped its quarterly forecast. The retailer could soon see its best quarter since 2012.
RDI Initiates Coverage on:
Amazon.com, Inc.
http://www.rdinvesting.com/report/?ticker=AMZN
Target Corporation
http://www.rdinvesting.com/report/?ticker=TGT
Amazon.com, Inc. shares traded fairly flat on Tuesday but still managed to hit an all-time new record high of $1,259.33. The jump even made CEO Jeff Bezos the richest man in the world, beating Bill Gates. In a survey, Piper Jaffray found that out of 1,000 internet users in the U.S. 50% allocated just 0-10% of their purchases during the holidays to Amazon. Analyst Michael Olson of the firm wrote, "The conclusion is that Amazon, despite its size and continued strong growth, is arguably still in the early innings of its share gain potential, even in the company's most penetrated market. We reiterate our OW rating on AMZN and raise our price target to $1,400, up from $1,200 previously." In other news, Toyota also announced at CES 2018 that it would be introducing Amazon's Alexa in some Toyota and Lexus vehicles this year. Zack Hicks, senior vice president and chief information officer at Toyota Motor North America and CEO of Toyota Connected, remarked, "This makes Toyota and Lexus vehicles among the first to bring the convenience of Alexa into the car and onto the road."
Access RDI's Amazon.com, Inc. Research Report at:
http://www.rdinvesting.com/report/?ticker=AMZN
Target Corporation shares closed up 2.92% on about 18 million shares traded on Tuesday after the retailer lifted its profit forecast. Target raised its quarterly profit and sales forecasts as online sales and customer visits exploded in the months of November and December for the company. The company could see be seeing its best quarter in five years as a result. Fourth quarter profit forecast has been lifted to a range of $1.30 to $1.40 a share. Previously the retailer had forecast a range of $1.05 to $1.25. Analysts had been calling for $1.22 a share. Jim Fosina, chief executive of Fosina Marketing Group, commented, "Target's brick-and-mortar customers are growing in their affinity to the Target online interface, pricing on hot products in the fourth quarter and the ability to deliver in time." The company has also forecast same-store sales growth for the quarter to be 3.4%. According to Retail Metrics' President Ken Perkins, if this forecast is met, it will be Target's best quarterly gain in the last five years.
Access RDI's Target Corporation Research Report at:
http://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.
Research Driven Investing
We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.
RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.
Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.
CONTACT
For any questions, inquiries, or comments reach out to us directly at:
Address:
Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011
Email:
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: RDInvesting.com
