Deutsche Bank initiated coverage of the Big Techs, justifying his optimism behind the stocks.
Analyst Lee Horowitz initiated Amazon.com Inc with a Buy and $4,100 price target (39.6 percent upside).
He believed that the market was under-appreciating upside associated with retail revenue, multi-channel grocery share gains, and the Amazon Web Services revenue implication of the backlog additions that the company had added in 2020 and 2021.
Analyst Benjamin Black initiated Meta Platforms Inc with a Buy and $265 price target (35.8 percent upside). He argued the issues around ESG and the fallout of IDFA as transitory and manageable and more than discounted at current levels.
Black initiated Alphabet Inc with a Buy and $3,150 price target (18.7 percent upside).
Google is a structural winner from the secular trend of commerce and services shifting from offline, physical venues to digital storefronts and “clearly stands to benefit” from e-commerce becoming an ever-increasing channel within global retail.
