Analysts’ Top Services Picks: Amazon.com Inc. (AMZN), SYNNEX Corp (SNX)

By Carrie Williams

There’s a lot to be optimistic about in the Services sector as 2 analysts just weighed in on Amazon.com Inc. (AMZNResearch Report) and SYNNEX Corp (SNXResearch Report) with bullish sentiments.

Amazon.com Inc. (AMZN)

Monness analyst Brian White maintained a Buy rating on Amazon.com Inc. today and set a price target of $2300. The company’s shares closed yesterday at $2001.07, close to its 52-week high of $2050.50.

According to TipRanks.com, White is a top 25 analyst with an average return of 27.6% and a 78.6% success rate. White covers the Technology sector, focusing on stocks such as Spotify Technology SA, Salesforce.com, and Alphabet Inc.

Currently, the analyst consensus on Amazon.com Inc. is a Strong Buy with an average price target of $2243.71, representing a 12.1% upside. In a report issued on July 3, Loop Capital Markets also reiterated a Buy rating on the stock with a $2380 price target.

See today’s analyst top recommended stocks >>

SYNNEX Corp (SNX)

In a report released today, Vincent Colicchio from Barrington maintained a Buy rating on SYNNEX Corp, with a price target of $118. The company’s shares closed yesterday at $93.82.

Colicchio commented:

“We expect operating margins to improve in fiscal 2019 and fiscal 2020 due to changes in the revenue mix, costs synergies from the Convergys acquisition and scale economies. Concentrix, which represented 20% of Q2/19 revenue, generates significantly higher gross and operating margins than the TD business.”

According to TipRanks.com, Colicchio is a 1-star analyst with an average return of -3.2% and a 50.5% success rate. Colicchio covers the Technology sector, focusing on stocks such as Sykes Enterprises Inc, Exlservice Holdings, and Computer Task.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for SYNNEX Corp with a $119 average price target.

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