Amazon, Snap and Under Armour 12-month price targets raised by analysts, Square initiated at “Underweight” at Atlantic Equities

September 4, 2019 6:45 am

Amazon.com Inc (AMZN)

RBC Capital Markets on Tuesday raised its 12-month price target on Amazon.com Inc from $2 250 to $2 600, citing an expected positive impact from the company’s new Prime one-day shipping. The brokerage maintained an “Outperform” rating on the stock.

Amazon shares closed higher for the eighth time in the past thirteen trading sessions on NASDAQ on Tuesday. The stock went up 0.76% ($13.55) to $1,789.84, after touching an intraday high at $1,801.11, or a price level not seen since August 23rd ($1,804.90).

Snap Inc (SNAP)

Evercore on Tuesday upgraded Snap Inc to “Outperform” from “In-Line” and also lifted its price target from $18 to $20. The brokerage highlighted Snap’s push into gaming, which “adds long-term fuel to an already very hot fire”. According to Evercore, the move could generate revenue of $350 million by 2022.

Snap shares closed higher for a fourth consecutive trading session in New York on Tuesday. It has also been the sharpest daily surge since August 29th. The stock went up 0.63% ($0.10) to $15.93, after touching an intraday high at $16.40, or a price level not seen since August 22nd ($16.74).

Square Inc (SQ)

Atlantic Equities on Tuesday initiated Square Inc at “Underweight” and also assigned a price target of $55 per share. On the other hand, MoffettNathanson upgraded the stock from “Neutral” to “Buy”.

Square shares closed lower for a second consecutive trading session in New York on Tuesday. The stock went down 1.15% ($0.71) to $61.13, after touching an intraday low at $60.96, or a price level not seen since August 28th ($60.60).

Under Armour Inc (UAA)

Bernstein on Tuesday upgraded Under Armour Inc from “Underperform” to “Market Perform” and also revised up its 12-month price target from $16 to $17 per share.

Under Armour shares closed lower for a second consecutive trading session in New York on Tuesday. The stock edged down 0.27% ($0.05) to $18.56, after touching an intraday low at $18.24, or a price level not seen since August 28th ($17.64).

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