Cowen Affirms Amazon (AMZN) at 'Outperform'; Thesis Unchanged Following Q3 Report

October 28, 2016 6:44 AM EDT
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Price: $759.36 +2.57%

Rating Summary:
    45 Buy, 5 Hold, 1 Sell

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Today's Overall Ratings:
    Up: 28 | Down: 20 | New: 17
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Cowen and Company affirms Amazon.com (Nasdaq: AMZN) at Outperform with a price target of $960 following Q3 results release on Thursday night.

Analyst John Blackledge noted that the firm's thesis on Amazon remains unchanged. The analyst commented on Friday: AMZN reported mixed 3Q results as revenue and CSOI were a little light. 3Q/4Q CSOI are being impacted by a "step-up" in investments, not to be confused with a new investment cycle, due to i) Rising Video Content costs in 2H16 (known), ii) Fulfillment centers (26 added in '16 vs. 14 in '15) to service 4Q demand, and iii) India. AWS results were strong.

For an analyst ratings summary and ratings history on Amazon.com click here. For more ratings news on Amazon.com click here.



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