Amazon.com (AMZN): Prime Item Selection Shrinks Unexpectedly Amid Member Growth - Baird
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Baird analyst, Colin Sebastian, reiterated his Outperform on shares of Amazon.com (NASDAQ: AMZN) in the face of a proprietary "Amazon Selection Survey" which showed an unexpected Q/Q decline (-6%) in SKUs. The analyst does not expect any notable impact especially since his separate consumer survey suggest an uptick in Q3 Prime memberships (estimate now 50M in U.S.) possibly coinciding with Prime Day.
The analyst stated "we expect Amazon Retail to remain in strong growth mode for years to come, further distancing itself from online/offline rivals".
No change to the price target of $850.00
Shares of Amazon.com closed at $841.71 yesterday.
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