Argus Upgrades Amazon.com (AMZN) to Buy
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Argus upgraded Amazon.com (NASDAQ: AMZN) from Hold to Buy on growth prospects.
Based on the firm's historical comparables analysis and discounted free cash flow valuation, they believe Amazon's growth prospects are accelerating more rapidly than the share price, thus creating a favorable entry point.
They believe AMZN warrants long-term accumulation in most equity accounts.
Shares of Amazon.com closed at $789.74 yesterday.
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