Jefferies Reiterates Buy on (AMZN) Following Mixed Quarter

October 28, 2016 7:46 AM EDT
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Price: $807.37 -0.29%

Rating Summary:
    45 Buy, 5 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 20 | New: 54
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Jefferies reiterated a Buy rating and $950.00 price target on (NASDAQ: AMZN) following the company's 3Q earnings report. Net sales were up 29% Y/Y to $32.71B vs the Street's $32.69B. EPS of $0.52 came in below consensus at $0.77. 4Q guidance was below expectations and reflects the step up in investment. Management expects net sales of $42.0-45.5B (midpoint of $43.8B), below cons at $44.6B.

Analyst Brian Fitzgerald commented, "AMZN reported a mixed qtr with in-line rev and a bit soft margins. Guidance came in below expectations as AMZN keeps investing in India, fulfillment, digital content, and AWS. We continue to believe that AMZN should be a core eCommerce holding as it still has plenty of growth opportunities ahead. The company remains one of the best large-cap ideas in our coverage universe, with one of the most significant moats. We reiterate our Buy and $950 PT."

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Shares of closed at $818.36 yesterday.

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