Analysts praise Amazon stock potential amid market fluctuations
- Joshua Brown from Ritholtz Wealth Management expressed optimism about Amazon's stock performance.
- Karen Firestone commented positively on Charter Communications due to increasing subscribers and a stock buyback.
- Overall market sentiments showed mixed trading performances among the highlighted stocks.
On November 26, 2024, the CNBC program 'Halftime Report Final Trades' featured several noteworthy stock recommendations from prominent market analysts. In the United States, Joshua Brown, who represents Ritholtz Wealth Management, expressed a favorable outlook on Amazon.com, Inc. This sentiment was supported by recent analyst upgrades; Redburn Atlantic's Alex Haissl maintained a Buy rating and increased the price target from $225 to $235, while MoffettNathanson analyst Michael Morton also maintained a Buy rating and elevated the price target from $235 to $248. These bullish sentiments come amidst an overall positive view of the e-commerce giant's profitability and growth potential. In addition to Amazon, Charter Communications, Inc. was highlighted by Karen Firestone from Aureus Asset Management, who mentioned three significant developments that position the company favorably in the market: an increase in subscribers, a reduction in capital expenditures, and a stock buyback initiative. Notably, on November 13, Charter Communications confirmed plans to acquire Liberty Broadband in an all-stock transaction, further boosting investor confidence. Jim Lebenthal from Cerity Partners singled out Lockheed Martin Corporation as his final trade, referencing the company’s reported net sales growth of 1.3% year-over-year, reaching $17.104 billion, although this fell short of the consensus estimate of $17.351 billion. Despite this miss, adjusted earnings per share (EPS) were reported at $6.84, surpassing the consensus of $6.50. Lastly, Stephanie Link from Hightower endorsed Rockwell Automation, Inc., which also received a nod from Baird analyst Richard Eastman who maintained an Outperform rating and raised the price target from $290 to $305. Overall, the trading session witnessed mixed performances from these stocks, with Amazon shares closing up 3.2% at $207.86, Charter Communications gaining 1.5% to settle at $390.29, while Lockheed Martin and Rockwell Automation experienced slight declines of 0.1% and 0.9%, respectively. These analyst endorsements and the trading patterns signal investor interests and market sentiments that may influence future trading decisions.