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Netflix, Amazon and Nvidia get Street-high targets on Covid-19 lift

Netflix, Amazon and Nvidia get Street-high targets on Covid-19 lift

12/7/2020 3:59:00 AM

Netflix , Amazon and Nvidia get Street-high targets on Covid-19 lift

[NEW YORK] A trio of companies that have been favourite plays throughout the pandemic all received Street-high price targets from analysts on Friday, a sign that some on Wall Street see further upside after pronounced rallies. Read more at The Business Times.

Netflix, Amazon.com and Nvidia, whose chips are used in cloud computing and gaming, are all viewed as being well-positioned with the coronavirus accelerating long-term growth trends as more consumers shop online and stay at home for entertainment.PHOTO: REUTERS

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[NEW YORK] A trio of companies that have been favourite plays throughout the pandemic all received Street-high price targets from analysts on Friday, a sign that some on Wall Street see further upside after pronounced rallies.Netflix, Amazon.com and Nvidia, whose chips are used in cloud computing and gaming, are all viewed as being well-positioned with the coronavirus accelerating long-term growth trends as more consumers shop online and stay at home for entertainment.

All three stocks are up at least 65 per cent thus far this year; Nvidia has risen almost 80 per cent. The S&P 500 is in slightly negative territory for the year.Goldman Sachs lifted its Netflix target to US$670 from US$540, contributing to an 8.6 per cent gain in Friday's session. The firm wrote that the pandemic was"accelerating the shift" to streaming content, away from traditional TV, and that the company's content library and distribution would"serve to steepen Netflix's growth curve both in the immediate and long term." headtopics.com

Read more: The Business Times »

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2 new community Covid-19 patients linked to family cluster at Tampines Street 11 HDB blockThey are a seven-year-old Singaporean girl who had no symptoms, and an 18-year-old Singaporean boy who started having symptoms on June 28.. Read more at straitstimes.com.