Citi Reiterates 'Buy' Rating on Amazon.com (AMZN)
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Citi reiterates a 'Buy' rating on Amazon.com Inc (Nasdaq: AMZN). Price target $97.
Citi analyst says, "Our Investment Thesis is based on the following key positives: 1) AMZN provides broad exposure to online retail's strong secular growth -- we are modeling a 14% CAGR for U.S. eRetail over the 2007-2010 period; 2) AMZN has been a consistent market share gainer and we believe will continue to be so for the foreseeable future; 3) AMZN has significant international presence -- 45% of its sales are outside North America; and 4) AMZN should have material margin expansion opportunity from the growth in high-margin 3rd party sales internationally."
Amazon.com, Inc. (Amazon.com) operates retail Websites, which enables its consumer customers to find and discover anything they might want to buy online.
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