Investors are closely watching Netflix (NFLX) as Phillip Securities has upgraded the streaming giant to Neutral from Reduce, with a new price target of $950, up from $870. This positive outlook follows the company's Q1 report, highlighting a robust content lineup and a significant push towards an advertising-supported tier, positioning Netflix to weather possible economic challenges.
Wolfe Research upgraded Disney (DIS) to Outperform, setting a price target of $112, citing the company's resilience amidst looming recessionary risks. Similarly, Spotify (SPOT) saw an upgrade to Outperform from Wolfe Research, driven by renewed optimism in gross margins due to beneficial label deals, and a price target of $660.
In the technology sector, Salesforce (CRM) experienced mixed reviews. Guggenheim upgraded the company to Neutral, recognizing its current valuation as better aligned with future growth prospects. Meanwhile, DA Davidson downgraded Salesforce to Underperform, concerned over its focus on AI ventures over core business operations.
Norwegian Cruise Line (NCLH) caught investor attention with Loop Capital's upgrade to Buy, maintaining a price target of $25. The recommendation comes after a substantial 40% dip in stock value for the year, with the firm confident in the cruise industry's market share prospects even in a recession.
Conversely, Amazon (AMZN, Financial) faced downgrade challenges, with Raymond James lowering its rating to Outperform and reducing the price target to $195, down from $275. Concerns were raised about the macro environment, tariff impacts, and intensified investment pressures affecting earnings.
Among fresh coverage initiations, Zillow Group (Z) was assigned a Market Perform rating by William Blair as it navigates early strides in developing a comprehensive "super app," while Dycom (DY) received an Overweight rating from JPMorgan, highlighting potential robust growth in the communications contract services sector.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 66 analysts, the average target price for Amazon.com Inc (AMZN, Financial) is $253.43 with a high estimate of $306.00 and a low estimate of $200.00. The average target implies an upside of 51.01% from the current price of $167.82. More detailed estimate data can be found on the Amazon.com Inc (AMZN) Forecast page.
Based on the consensus recommendation from 72 brokerage firms, Amazon.com Inc's (AMZN, Financial) average brokerage recommendation is currently 1.8, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Amazon.com Inc (AMZN, Financial) in one year is $183.77, suggesting a upside of 9.5% from the current price of $167.8199. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Amazon.com Inc (AMZN) Summary page.
