Technology

3 Top Jefferies Growth Stocks to Buy Are Red-Hot Mega-Tech Companies

Last week was a big relief to many investors as the market finally rebounded solidly enough to take away the concerns over a breakdown back to the sell-off lows. While positive news like housing starts, lower rates in China and the potential for the European Central Bank to expand the current quantitative easing all helped, big earnings posted by some bellwether companies also pushed the needle.

A new report from Jefferies highlights this week’s top stocks to buy. We screened the list and found three huge, hot tech stocks that still have outstanding upside potential that are among this biggest favorites at Jefferies, and of course, all are rated Buy.

Amazon

This is the absolute leader in online retail, and it is also a dominate player in cloud storage business and just crushed earnings last week. Amazon.com Inc. (NASDAQ: AMZN) serves consumers through retail websites, which primarily include merchandise and content purchased for resale from vendors and those offered by third-party sellers. In addition, the company serves developers and enterprises through Amazon Web Services (AWS), the company’s cloud computing platform which provides storage, database, analytics, applications and deployment services that enable virtually all businesses to move their commerce and back-office to the cloud.

Jefferies notes that Amazon posted outstanding earnings and that the company had incredible unit and revenue growth. The firm also notes that the online retail giant’s fulfillment advantage over peers may end up being one of the most significant silos in the company’s overall business structure.

The Jefferies price target for the stock is a gigantic $775, and the Thomson/first Call consensus target is $795.71. The stock closed Friday at $599.03.

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