Amazon Earns Praise, Disney Excites, Macy’s Facing Pressure

In Friday’s Analysts' Actions, Wall Street firms weigh in on Amazon (AMZN), Walt Disney (DIS), and Macys’ (M). After Amazon blew past estimates in its latest quarter with a surprise profit, analysts are upbeat. Barclays raised its rating on shares of the ecommerce giant to OVERWEIGHT from EQUAL WEIGHT saying the quarter ‘was too good in our view to wait’ for an upgrade. Piper Jaffray also liked what it saw, and hiked its price target to $650 from $520 with an OVERWEIGHT rating, saying they expect further margin expansion. Analysts at Topeka Capital Markets upgrades shares of Disney to BUY from HOLD with a higher $138 price target, citing the opening of Shanghai Disneyland. And, analysts at Atlantic Equities cut their rating on Macy’s to UNDERWEIGHT from NEUTRAL with a $64 price target based on softer sales trends. The firm expects weaker operating results to pressure the department store chain’s stock. TheStreet's Kurumi Fukushima reports in New York.