Amazon.com (NASDAQ:AMZN): Amazon and eBay (NASDAQ:EBAY) will likely see little impact from the reformed sales tax code, and would reduce eBay’s EPS by less than 1 percent in 2014 if it becomes law. The effect on Amazon would be “immaterial,” according to Bernstein, which keeps an Outperform on both stocks.
Flextronics (NASDAQ:FLEX): Deutsche Bank has downgraded Flextronics, due to valuation concerns and increased caution regarding a second half of 2013 recovery in the telecom and networking end markets. The bank did keep an $8 price target.
Saks Inc. (NYSE:SKS): Citigroup believes Saks could attract leveraged buyout interests, especially given the company’s international growth and margin improvement potential, but feels the 26 percent rise in shares over the past two days prices in much of the opportunity and diminishes the potential return for an acquirer. Citi keeps a Neutral rating, and a $17 price target.
Fabrinet (NYSE:FN): Valuation concerns and increased caution regarding a second half of 2013 recovery in the telecom and networking end markets have urged Deutsche Bank to downgrade Fabrinet from Buy to Hold, and drop its price target from $16 to $15.
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