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Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: a buy initiation and upgrade at Amazon.com, as well as upgrades at Aptive, Marsh & McLennan, and Glaukos.
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Wells Fargo initiated coverage on Amazon.com (NASDAQ:AMZN) with an Overweight rating and a price target of $159.00. Meanwhile, Edgewater Research upgraded the company to Outperform from Market Perform.
Wells Fargo (NYSE:WFC) cited the company's recent shift to a regional fulfillment model for deliveries, which it believes could bring shares at least 30% higher than where they are currently trading.
Yesterday, The Wall Street Journal reported that Amazon is planning to launch an ad-supported tier for its Prime Video streaming service. Additionally, Amazon is reportedly in talks with Warner Bros Discovery (NASDAQ:WBD) and Paramount (NASDAQ:PARA) to add ad-based tiers to their streaming services through Prime Video channels. Amazon, Paramount, and Warner have declined to comment on the matter, the WSJ said.
Wolfe Research upgraded Aptiv (NYSE:APTV) to Outperform from Peerperform with a price target of $130.00.
The firm sees several upcoming catalysts for Aptive, including a strong upward trajectory for margins, and significant potential for upside to consensus estimates. 2023 Street consensus of $4.38 EPS is consistent with the company's $4.00-$4.50 guidance, but Wolfe expects guidance to be raised on Q2/23 earnings call in August.
Evercore ISI upgraded Marsh & McLennan (NYSE:MMC) to Outperform from In Line and raised its price target to $199.00 from $195.00, expecting a 4-5% upside to consensus EPS with more visibility given a greater ability to leverage Centers of Excellence.
Piper Sandler upgraded Glaukos (NYSE:GKOS) to Overweight from Neutral and raised its price target to $80.00 from $55.00, noting it believes the Street is underestimating the ramp of both iStent Infinite and, more critically, iDose.
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