Top Analysts Ratings & Analysis: Sept 11th 2024

Top Ratings

Amazon

• Target Price: USD 230
• Analyst: Goldman Sachs & Co.
• Rating: Buy
• Date: September 11, 2024

Analysis: Goldman Sachs & Co. has set a target price of USD 230 for Amazon, with a “Buy” recommendation. This target indicates confidence in Amazon’s continued growth and market dominance. The company’s diverse revenue streams, including its strong e-commerce platform, Amazon Web Services (AWS), and increasing focus on AI and logistics, support this positive outlook. Investors should monitor Amazon’s performance in these key areas and the overall economic environment, which can impact consumer spending and cloud services growth.

Robinhood

• Target Price: USD 22.5
• Analyst: Goldman Sachs & Co.
• Rating: Hold
• Date: September 11, 2024

Analysis: Goldman Sachs & Co. has assigned a “Hold” rating for Robinhood with a target price of USD 22.5. This cautious stance reflects concerns over the company’s current operational challenges and competitive pressures in the fintech space. While Robinhood’s innovative trading platform and large user base are strengths, factors such as regulatory risks, market volatility, and profitability concerns may influence its stock performance. Investors should keep an eye on Robinhood’s financial health and strategic adjustments in response to evolving market conditions.

IBM

• Target Price: USD 240 (upgraded from USD 215)
• Analyst: Evercore ISI
• Rating: Outperform
• Date: September 11, 2024

Analysis: Evercore ISI has upgraded IBM’s target price to USD 240, maintaining an “Outperform” rating. The increase in target reflects improved confidence in IBM’s ability to leverage its strategic investments in cloud computing, AI, and hybrid cloud solutions. IBM’s ongoing efforts to modernize its portfolio and drive growth in high-margin segments are key factors behind this positive revision. Investors should consider IBM’s progress in executing its transformation strategy and the impact of technological advancements on its business model.

Shopify

• Target Price Raised to USD 90 (from USD 80)
• Analyst: Wells Fargo & Company
• Rating: Overweight
• Date: September 11, 2024

Analysis: Wells Fargo & Company has raised its target price for Shopify to USD 90, reflecting an “Overweight” rating. This upward revision indicates increased optimism about Shopify’s growth prospects and its competitive position in the e-commerce space. Shopify’s strong performance in enabling businesses to set up and scale online stores, coupled with its expanding suite of merchant services, supports this positive outlook. Investors should watch Shopify’s ability to sustain its growth trajectory and adapt to evolving e-commerce trends and market dynamics.

Royal Bank of Canada (RBC)

• Target Price: CAD 187
• Analyst: UBS
• Rating: Buy
• Date: September 11, 2024

Analysis: UBS has set a target price of CAD 187 for Royal Bank of Canada, maintaining a “Buy” rating. This target reflects a positive outlook for the bank, suggesting potential upside from its current trading levels. RBC’s strong fundamentals, including robust financial performance and stability in the Canadian banking sector, likely support this bullish stance. Investors should consider the bank’s consistent earnings, solid dividend yield, and resilient balance sheet, which make it a favorable choice in the financial sector.