Jefferies names Amazon (AMZN +1.7%), Facebook (FB +2.8%), Alphabet (GOOG +0.4%)(GOOGL +0.3%), Wix (WIX +1.8%), and Chegg (CHGG +6.2%) as the tech companies most likely to outperform in the next year.
Analyst Brent Thill says some of the FAANG stocks
are already showing signs of a rebound despite the ongoing coronavirus
pandemic.
Thill: “We think FB and GOOGL are especially well
positioned for a downturn as they have $55B and $115B in net cash,
respectively, allowing them to invest significantly back into their
businesses and/or do opportunistic M&A and buybacks.”
The analyst sees Amazon as best-positioned in
e-commerce due to the surging demand but reduces his estimates due to
potential supply chain issues.
Thill also cut his revenue estimates for Lyft (LYFT +9.1%), expecting a “severe” demand reduction in March and Q2 due to the quarantines.
https://seekingalpha.com/news/3553817-jefferies-names-potential-tech-winners-amid-outbreak
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