Canaccord Genuity Maintains a 'Hold' on Amazon.com (AMZN); Raising PT & Estimates After Q1

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Canaccord Genuity maintains a 'Hold' on Amazon.com (NASDAQ: AMZN) price target raised from $210 to $230.

Analyst, Michael Graham, said, "Amazon delivered a solid revenue recovery along with very low margin outlook due to distribution spending. We are encouraged by digital media strength, but suspect that after a revenue-relief rally, the stock will remain largely range-bound until margins can recover closer to the end of this investment cycle...We are tweaking estimates higher, marked by slightly higher revenue estimates partially offset by weaker margins."

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 $195.99 yesterday, with a 52 week range of $166.97-$246.71.

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