Amazon (AMZN) PT Raised to $880 at Credit Suisse

Credit Suisse analyst S. Ju reiterated an Outperform rating and raised his price target on Amazon.com (NASDAQ: AMZN) to $880.00 (from $800.00) following strong Q1.

Ju commented, "AMZN posted a better-than-expected 1Q16; revenue of $29.1b +29% x-FX was above our estimate, CSOI was $1.66b (vs. $706mm in 1Q15) and our $752mm. Consequently, CSOI margin was 5.7% vs. 3.1% in 1Q15 and was 300bps above our 2.7% estimate. We have increased our FY16 EGM and AWS revenue estimates by 1.5% and 2.6% respectively, as we flow through higher growth expectations following stronger-than-expected results. Our FY16 adj. EPS increases to $12.22 vs. $10.18 prior and our PT is now $880 vs. $800 prior."

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 $602.00 yesterday.

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