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Amazon (AMZN): Whole Foods and Prime Day To Drive Upside - Wedbush

October 23, 2017 7:28 AM EDT
Get Alerts AMZN Hot Sheet
Price: $174.48 +0.03%

Rating Summary:
    65 Buy, 5 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 20 | Down: 14 | New: 22
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Wedbush analyst, Michael Pachter, reiterated his Outperform rating on shares of Amazon.com (NASDAQ: AMZN) ahead of Q3:17 results after the market close on Thursday, October
26th. The analyst expects expect Q3 top-line upside driven by a successful Prime Day and the acquisition of Whole Foods Market, which closed on August 28.

The analyst stated "eventually, Amazon Web Services (“AWS”), Fulfillment by Amazon, and ads should drive margin growth, with Prime driving overall retail revenue growth. Margin expansion will likely be tempered somewhat by increased spending; however, the trajectory is clear and investment strategy purposeful". No change to the price target of $1,250.

For an analyst ratings summary and ratings history on Amazon.com click here. For more ratings news on Amazon.com click here.

Shares of Amazon.com closed at $982.91 yesterday.



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