Techquity: Amazon on way to $300: analysts; Facebook at $30
Wednesday, January 09, 2013 - 02:41
Jan 9 - Two analysts raise their price targets on Amazon while Facebook crosses $30 for the first time in six months.
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And analysts are giving Amazon a -- FaceBook reaches a milestone -- apple reportedly considers a new phone we're gonna tell you what one stock watcher thinks. First up -- Amazon Bank of America Merrill Lynch and benchmark are raising their price target on the stock. DNA is keeping its buy rating though it thinks it won't be all smooth sailing for the company saying that this year could be lumpy with -- disappointing margins. It -- Amazon's new distribution centers and cloud businesses as helping its cause. Benchmark is also sticking with -- -- rating. It -- that Amazon's new product launches are contributing to its gains though it's easy chance of challenging economic environment reducing its overall growth rate. Benchmark is raising its price target from 260 to 310 dollars per share and BofA Merrill Lynch is taking stock target that they have from 274 all the way up to 300 dollars per share so far today shares are up fractionally near 268. FaceBook is shopping after inviting media members to an announcement next week there invitation only states come and see what we are building and includes time and date. And now rumors are flying about what it actually mean. I'd be analog is saying that the social network could revealing new Smartphone or can be a tablet or even new software says tech punter. CNET is noting that FaceBook partner Microsoft is losing its messenger service in favor of Skype on the very same day. For FaceBook why is -- good news or shares crossed the thirty dollar mark for the first time since July 16 of last year the stock is up 4% so far today. Apple is considering a lower cost iPhone. The Wall Street Journal and others are reporting now that it can't come out with a device this year it would use less expensive materials like plastic which would make up its outer layer. Piper Jaffray analyst gene Munster thinks that there's a sixty to 70% chance that the -- could even hit the market in 2013. And it would provide a big catalyst for the stock. However today so far apple shares are down less than 1%. In our best of the rest sprint which is getting competition for Clearwire. And DISH Network making 82 point three billion dollar offer for the wireless service provider sprint -- about a hundred million dollars less net. Clearwire owns crucial mobile spectrum used by media consumer mobile devices like tablets. -- is down 2% on the news and -- is rising 3% nears 52 week high Clearwire for its part is up more than 7%. That's protect would be this Wednesday remember you can follow us on Twitter -- our -- our best equity. I'm just -- this work.
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