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Here are the biggest calls on Wall Street on Tuesday:
Wells Fargo raised its price target on Amazon and said it expects "exceptionally strong" e-commerce demand to continue.
"While we note ramping local fulfillment capabilities and exceptionally strong ecommerce data pts from omnichannel retail competitors, we nonetheless expect that AMZN is likely to benefit from exceptionally strong e-commerce demand in 2Q, likely extending into 2H20. Though we view omnichannel retailers' recent progress on buy online pickup in store/curbside as very much worth monitoring, we believe that AMZN's continued build-out of last-mile fulfillment capacity and a gradual return to more hectic work and school schedules among consumers will likely shift momentum back toward rapid delivery from competitors' store-based fulfillment options."
Barclays upgraded the social game developer and said it thinks shares still have more room to run.
"After its announcement last week to acquire Peak for $1.8B the question remains whether the stock has reached its peak valuation or whether this will be another inflection point, similar to the prior two acquisitions. Despite the stock's outperformance in the last couple years, we think there is still plenty of room left for growth due to: 1) multiple opportunities for Peak bookings to accelerate under Zynga management, 2) core Zynga titles to benefit from Peak's 12m daily active user's, 3) larger bookings scale leading to margin expansion, 4) user engagement remain elevated post-Covid-19, and 5) Zynga cementing itself as one of the preferred destinations for private mobile gaming companies."