Analysts Chime in On This Week’s Trending Stocks

After turning in an underwhelming third quarter earnings report, Alcoa Inc (NYSE:AA)‘s popularity on the Street has waned somewhat. Just recently, Bank of America Merrill Lynch analyst Timna Tanners downgraded the industrial stock to ‘Neutral’ from ‘Buy’ and trimmed the firm’s price target on it to $30 from $33. Tanners believes that Alcoa will continue to face margin pressure and that its guidance could be at risk if aerospace continues to weaken due to execution problems or delays. 38 funds that we track owned shares of Alcoa Inc (NYSE:AA) at the end of June.

Procter & Gamble Co (NYSE:PG) is in the spotlight after John Staszak of Argus upgraded the consumer staple to ‘Buy’ from ‘Hold’ and established a $103 price target on the stock. Staszak upgraded P&G because he expects better things from the company’s bottom-line for its 2017 and 2018 fiscal years, due to its management’s plans to accelerate advertising spending and R&D. The analyst also notes that P&G is undervalued when contrasted with its three-year average valuation range. The number of funds in our database with holdings in Procter & Gamble Co (NYSE:PG) fell by three during the June quarter to 56 on June 30.

Youssef Squali of Cantor Fitzgerald thinks that Amazon.com, Inc. (NASDAQ:AMZN) could make it to the four-digit club, as he recently upped his price target on the company’s shares to $1,000 from $835 while maintaining his ‘Buy’ rating on them. Squali likes Amazon Web Services’ strong momentum and favorable economics, and Amazon’s strength in its core e-commerce unit. Squali thinks that Amazon shares will grind higher and higher, potentially making it one of the first companies to hit quadruple digits out of the current crop of major tech stocks. 145 funds in our system had a long position in Amazon.com, Inc. (NASDAQ:AMZN) as of June 30, up by 12 from the start of April.

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