TD Cowen has raised its price targets on Big Tech names Meta Platforms (META), Alphabet (GOOG, GOOGL), and Amazon (AMZN) ahead of their second quarter earnings reports.
Market Domination anchors Josh Lipton and Julie Hyman break down TD Cowen analysts’ calls on these major tech players.
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This post was written by Nicholas Jacobino
Video Transcript
Let’s get to some calls the day now, TD Cow and lifting its price target on big big tech names, Amazon alphabet and meta analysts adjusting their expectations ahead of the second quarter earnings season.
We’re going to get Big Tech really towards the end of the month here.
Alphabet shares by the way are trading at a record today with that increase.
And I was looking not just at the TD Cowan Note, Josh, but at what’s been happening with earnings estimates for, for alphabet, they haven’t really been budging over the past month or so.
Um So this uh this estimate here in the price target going to to $220 from John Blackledge over at Cowan.
Um does maybe it’s the beginning.
I don’t know, maybe we’ll start to get some revisions now as we get closer to the numbers.
Yes, earning season here.
That means the previews start coming.
So T DC, they liked alphabet.
They still like alphabet, they take the target up to 220.
By the way, I’m just looking at the preview from meta as well and I believe there also bullish still have a buy and yes, they took that target up to 600.
They were sort of doing, um, their own surveys and checks and like what they heard, I mean, one question that’s gonna be interesting.
Julie, is you the, these tech games of course, have just rocketed higher this year.
I mean, they had such strong runs.
Expectations are high heading into these earnings prints.
Well, what’s been interesting is, you know, we talked to O San Juan at the top of the show from Bank of America who said we’re gonna start to see some broadening in the earnings performance beyond Big Tech.
But he didn’t say and I really haven’t heard others say that Big Tech is gonna fall down.
In other words, it’s more like Big Tech has been hot and the other stuff is gonna start to keep pace.
It’s not so much that Big Tech is gonna slow down, which is interesting if you think about to your point how well they’ve been doing so far.
It’s been such a like, you know, the skeptics have been pounding on that so hard narrow rally, narrow rally, although a rally can be narrow for a while.
Yeah, we’re looking at that 37th record close today.
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