Amazon (AMZN) PT Lifted to $520 by Piper Jaffray's Munster

Piper Jaffray analyst Gene Munster reiterated an Overweight rating and boosted his price target on Amazon.com (NASDAQ: AMZN) to $520.00 (from $475.00) saying their is still room for margin expansion.

Munster commented, "While the easy money on AMZN is off the table, we continue to believe that shares can move meaningfully higher as there remains one quarter (Sept) of margin expansion above Street and buyside expectations. Following the Sept guidance catalyst, we believe investor focus will shift to revenue growth, which we are optimistic about given investments in same day shipping, Fresh and more broadly that eCommerce is still in its infancy (eMarketer estimates US at 6.5% in 2014). Our outlook remains long-term and we encourage investors to think of Amazon in light of the 5+ year eCommerce & cloud opportunity. Reiterate our Overweight rating and raise our PT to $520 from $475."

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 $430.99 yesterday.

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