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Today's charts: Barclays says buy Amazon, Facebook and Alphabet; Restoration Hardware shares soar

Yahoo Finance is tracking Amazon, Facebook, Alphabet and Restoration Hardware in intraday trading on Wednesday.

Amazon (AMZN) – Barclays (BCS) initiated coverage on the stock with an overweight rating and a price target of $1,120, which implies nearly 30% upside potential from Amazon’s closing price on Tuesday. In a research note, Barclays wrote that Amazon “is arguably the best story in the space, with the most open-ended growth opportunity & most highly functional organization.” It also said the firm is likely to be one of the first trillion-dollar market cap companies.

Facebook (FB) – Barclays started coverage on Facebook with an overweight rating and a price target of $154, driven by the belief that it sees ten years of strong fundamentals ahead. Barclays noted that it thinks the social media giant is the “best pure play in consumer Internet around the secular growth in mobile advertising.”

Restoration Hardware (RH) – Shares are surging after the luxury furnishing company beat Wall Street earnings estimates for the fourth quarter of 2016 on both the top and bottom lines. Restoration Hardware posted adjusted earnings per share of 68 cents on revenue of $587 million. Cowen raised its price target to $44 from $33 while maintaining a market perform rating on the stock.

Alphabet (GOOGL) – Barclays initiated coverage on Google’s parent company Alphabet with an overweight rating and price target of $1,065. In a note to investors, Barclays wrote, “The pace of innovation is high, especially as Google updates many core applications using its advanced machine learning (AI) and expands into areas like cloud and hardware.”

For more on Wednesday’s big stock movers, check out the Final Round, live at 4 p.m. EDT, right here on Yahoo Finance.