After reporting earnings Thursday, both Starbucks Corporation (SBUX) - Get Report and Amazon.com, Inc. (AMZN) - Get Report are lower Friday morning. In the first few minutes of trading, Starbucks was down 7.40% to $55.08, while Amazon fell 4% to $1,010.69.

Earnings guidance for both companies came in light, which is weighing on investors outlook. What does Wall Street have to say, though?

When it comes to Amazon, most analysts appear to remain optimistic, although most were just content to maintain their ratings and price target. Wedbush analyst Michael Pachter maintained his price target of $1,250 and outperform rating, arguing that Amazon can "clearly deliver profits when it wants to."

RBC analyst Mark Mahaney defended the company's spending, saying that large investments are required in order to continue taking market share. Additionally, Amazon still has plenty of markets left to penetrate. As a result, he maintained his outperform rating and $1,100 price target as well.

Baird's Colin Sebastian argues that near-term growth prospects remain encouraging. Deutsche Bank analyst Lloyd Walmsley was encouraged enough to raise his price target to $1,175 from $1,135 after Amazon's results.

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Overall, it appears AMZN stock is getting a nod from analysts. Then there's Starbucks. Despite the retailer's shares falling more than 7% Friday morning, analysts largely seem to remain patient.

After management lowered its full-year earnings outlook, Jefferies analyst Andy Barish argues that investors have been pricing in a lower valuation in SBUX stock after years of sideways trading. He said investors should be patient, but reiterated his buy rating and $65 price target, implying about 18% upside from current levels.

UBS analyst Denis Geiger says Starbucks is better positioned than most retailers to handle the slowdown in the sector. Despite the declining outlook, Starbucks still maintains strong growth. While Geiger did cut his price target to $67 from $70, he still has a buy rating on the stock. His price target implies nearly 22% upside.

JPMorgan's John Ivanko has been waiting for a drop below $55 to find Starbucks stock more attractive. He argues that 10% to 15% earnings growth is a more reasonable long-term expectation, as opposed to the company's previous estimate of 15% to 20%. He maintained his outperform rating, but trimmed his price target to $62 from $63.

The news wasn't all good for SBUX stock, though. Analysts at both Stifel and Guggenheim downgraded shares to neutral from buy. But who can blame them after that quarter?

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This article is commentary by an independent contributor. At the time of publication, the author was long Starbucks.