Analysts: Amazon Is a Buy Based on Fourth-Quarter Expectations and 3 More Research Notes to Browse Inc. (NASDAQ:AMZN): UBS upgraded Amazon to Buy from Neutral based on expectations for accelerated fourth-quarter revenue and paid unit growth driven by the strong secular backdrop of substantial seasonal hiring trends, game and console sales, and easier paid unit comps. Additionally, the firm’s outlook remains positive on the globalization of the Kindle ecosystem and its unappreciated advertising business; the analyst raised the price target on Amazon shares to $385 from $305.


Under Armour Inc. (NYSE:UA): Canaccord raised Under Armour’s price target to $92 from $76 ahead of the October 24 third-quarter report; the firm believes Under Armour has been a beneficiary of strong athletic traffic and speculates new products with higher ASPs, shop-in-shop openings at Dick’s Sporting Goods, and direct-to-consumer growth will drive earnings to 69 cents for the quarter vs. consensus of 66 cents. Shares are Buy rated.


Capital One (NYSE:COF): Capital One reported higher third-quarter earnings per share than initially expected. Following the results, RBC Capital expects the company’s EPS to exceed expectations in future quarters, driven by share buybacks and expense management; the firm raised its price target on Capital One shares to $77 from $71 and keeps an Outperform rating on the stock.


Freeport McMoRan (NYSE:FCX): RBC Capital expects Freeport McMoRan to report higher-than-expected third-quarter earnings per share given that the company benefits from higher volumes and higher prices than in the second quarter; nonetheless, the firm keeps a Sector Perform rating on Freeport McMoRan stock.


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