AMZN stock just had its price target raised to $4,000 by Mizuho. Mizuho analyst James Lee raised the firm’s price target on Amazon.com to $4,000 from $3,700 and keeps a Buy rating on the shares. The analyst recently did channel checks on Amazon and came away positive on the quarter. Positive search traffic growth supports the company’s logistics buildout for the second half of 2020, Lee tells investors in a research note. The analyst believes Amazon’s Q3 is tracking ahead of the consensus revenue growth rate of 33% year-over-year.
On October 2, 2020, Morgan Stanley analyst Adam Jonas raised the firm’s price target on CarMax (KMX) to $180 from $116 and keeps an Overweight rating on the shares. Jonas said that the market is getting CarMax wrong. His new price target represents a 90% upside. Carvana (CVNA) has disrupted the used car dealer industry by offering a comprehensive end to end experience for consumers to transact in the buying and selling of cars online, says Jonas. The analyst believes CarMax can leverage Carvana’s formula in its own way by further tapping into its existing dealer store network and brand value to assist growth. He expects 6.8% retail unit growth from through 2031 for CarMax, driven by total market growth, market share gains, and new store openings. Jonas said that the market is “meaningfully under-appreciating” CarMax as a beneficiary to the online buying secular tailwind.
On September 29, 2020, Baird analyst Colin Sebastian raised the price target on Liquidity Services to $8 from $7 and kept a Neutral rating on the shares. The analyst “modestly” increased estimates after tracking on Liquidity Services sites showed improvement and greater stability in auction activity since early August. Govdeals listings are tracking meaningfully higher quarter-over-quarter, while the rollout of consolidated marketplace Allsurplus.com should help improve volume trends with higher engagement levels, Sebastian tells investors in a research note. The analyst recommends investors “keep an eye on” Liquidity Services.
CNBC’s Brian Sullivan highlights the stocks seeing the most insider buying this week, on Worldwide Exchange.