FBR Capital Expects Solid Quarter From Amazon.com (AMZN), Raises Price Target & Estimates
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FBR Capital expects a solid quarter from Amazon.com (Nasdaq: AMZN), raises price target and estimates.
FBR analyst says, "We are raising our estimates slightly to reflect the more favorable foreign exchange environment, expectations for continued share gains for both e-commerce and Amazon, and strength in the media business, as the outlook for books and video games improves, and the headwinds from declining music and DVD sales become less severe. Our FY09 estimates for revenues and GAAP EPS go from $22.72B and $1.67 to $22.75B and $1.73. For FY10, our estimates go from $27.03B and $2.14 to $27.14B and $2.26. Based on these revisions, our price target goes from $85 to $95, or 42x our 2010 GAAP EPS estimate. We continue to look for an attractive entry point to upgrade AMZN and feel that any material weakness in the stock, improvement in fundamentals, or a combination thereof could create that opportunity."
To see more analyst ratings on AMZN Click Here.
Amazon.com, Inc. operates as an online retailer in North America and internationally.
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