Bullish calls on Amazon; Intel raises guidance; Deutsche Bank asked to pay $14B
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Intel (INTC) – The company has increased its third-quarter guidance on signs of improving demand in the personal-computer market. Intel upped its outlook to $15.6 billion from $14.9 billion.
Amazon (AMZN) – RBC and Evercore both raised their price targets on Amazon. Evercore reiterated a buy rating and upped its price target to $1,015 while RBC reiterated an outperform rating and raised its price target to $1,000.
Deutsche Bank (DB) – The US Justice Department is asking Deutsche Bank to pay $14 billion to settle a probe into mortgage-backed securities stemming from the 2008 financial crisis.
Citi (C) – Goldman Sachs (GS) is turning more bearish on Citigroup, downgrading the stock to neutral from buy. Goldman does not think growth in credit cards and wealth management will be able to boost return on equity to double digits.
MGM Resorts (MGM) – Gabelli is bullish on MGM Resorts, calling the stock one of its top ideas. Gabelli thinks the Las Vegas convention business and new properties will be positive EPS drivers.