Three e-commerce companies received a bullish call in a Jefferies note Monday with the company raising Amazon’s price targets. (AMZN) – Get reportEBAY (EBAY) – Get report and Etsy (ETSY) – Get report.
Amazon’s target price rose to $ 3,800 from $ 3,100, while eBay’s target price was raised to $ 58 from $ 52 and Etsy increased to $ 125 from $ 110.
“Our analysis points to continued high front-line growth for e-commerce through June and through July, supporting our view that behavioral changes caused by the pandemic have permanently increased online consumption,” analyst Brent said. Thill.
Jefferies is more optimistic on Amazon and Etsy, as those two companies “are better positioned to benefit in the long term from the behavioral changes resulting from the pandemic.”
On a separate note, an analyst at Goldman Sachs raised Amazon’s target price to $ 3,800 from $ 3,000, EBAY rose to $ 56 from $ 49, and Wayfair W.
“We expect companies with models that will benefit beyond the immediate crisis in the form of accelerated network effects, weakened competitive pools, and scale profits to profitability,” wrote Heath Terry, an analyst at Goldman.
Goldman is more optimistic about stocks like Amazon, Google (GOOGL) – Get reportPaypal (PYPL) – Get reportPlatoon (PTON) – Get report, Snap Inc (SNAP) – Get report and Twitter (TWTR) – Get report As consumer behavior continues to migrate online amidst the blocking of the coronavirus pandemic.
“Given the increased digital adoption in recent months, the convenience offered by these platforms amid the pandemic, and the large number of retail store closings and bankruptcies, switching to the Internet could continue to be high in the coming quarters,” Terry wrote. .
Amazon shares were up 2% in early trading on Monday, while eBay was up 0.7% and Etsy was up 1.6%.
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