Top Ratings & Analysis: July 22nd
Top 5 Analyst Ratings:
Amazon (AMZN)
Truist Financial (Analyst Rank #19) has updated its coverage on Amazon, raising the target price from $220 to $230 while maintaining a “Buy” rating. This adjustment reflects Truist Financial’s increased confidence in Amazon’s growth prospects, driven by strong performance in its core e-commerce business and expanding cloud services through Amazon Web Services (AWS). The higher target price suggests expectations for continued revenue growth and market dominance.
Brookfield Asset Management (BAM:CA)
CIBC (Analyst Rank #14) has raised its target price for Brookfield Asset Management from $63 to $67, and maintained the “Outperform” rating. This positive revision is based on Brookfield’s robust asset management strategies and its successful track record of investments across various sectors. CIBC’s update underscores confidence in Brookfield’s ability to generate strong returns and capitalize on new market opportunities.
Alphabet (GOOGL)
Wedbush Securities (Analyst Rank #35) continues to hold an “Outperform” rating for Alphabet, with an unchanged target price of $205. The firm highlights Alphabet’s strong advertising revenues, continuous innovation in artificial intelligence, and growth in its cloud computing segment as key factors supporting the bullish outlook. Wedbush’s rating indicates a belief that Alphabet will outperform the broader market in the foreseeable future.
Nvidia (NVDA)
Piper Jaffray (Rank#15) has increased its target price for Nvidia from $120 to $140, while maintaining an “Overweight” rating. The upward revision reflects optimism about Nvidia’s leadership in the graphics processing unit (GPU) market and its expanding influence in artificial intelligence and data centers. Piper’s analysis suggests that Nvidia’s technological advancements and strategic positioning will drive significant growth.
Uber (UBER)
Melius Research (Analyst Rank#35) has maintained its “Hold” rating for Uber, with a target price of $77. This neutral stance reflects a cautious outlook on Uber’s ability to navigate regulatory challenges and achieve profitability in its core ride-sharing business. Despite these concerns, the target price indicates potential for moderate growth, contingent on operational improvements and market conditions.
