UPDATE: Goldman Sachs Upgrades Amazon.com (AMZN) to Buy, Raises Target to $300
Tweet Send to a Friend
Get Alerts AMZN Hot Sheet
Price: $262.96 --0%
Rating Summary:
26 Buy, 11 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 8 | New: 10
Rating Summary:
26 Buy, 11 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 8 | New: 10
Trade AMZN Now!
(Updated - April 27, 2012 9:13 AM EDT)
Goldman Sachs' Heather Bellini upgraded shares of Amazon.com (NASDAQ: AMZN) from Neutral to Buy Friday morning following the online retailers solid Q1 results and the resulting 16 percent surge in the stock. The analyst boosted her price target from $182 to $300.
The analyst said "the bear thesis on physical to digital media is overstated and the media segment is likely to show acceleration through 2013." Bellini sees the key debate following the results "whether or not CSOI margins will bottom in 2012 after steadily declining from 6.4% in 2009 to our estimate of 2.4% to end this fiscal year." She would answer the topic with a "yes."
Bellini ratcheted her full year earnings estimates on Amazon sharply higher: from 36 cents to 87 cents for FY12 and from $2.11 to $2.67 for FY13. The Street is currently expecting FY12 EPS of $1.24 and FY13 EPS of $2.54.
With Amazon.com shares last trading around $228, Bellini's new price target represents potential upside of about 32 percent.
For an analyst ratings summary and ratings history on Amazon.com click here. For more ratings news on Amazon.com click here.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Goldman Sachs' Heather Bellini upgraded shares of Amazon.com (NASDAQ: AMZN) from Neutral to Buy Friday morning following the online retailers solid Q1 results and the resulting 16 percent surge in the stock. The analyst boosted her price target from $182 to $300.
The analyst said "the bear thesis on physical to digital media is overstated and the media segment is likely to show acceleration through 2013." Bellini sees the key debate following the results "whether or not CSOI margins will bottom in 2012 after steadily declining from 6.4% in 2009 to our estimate of 2.4% to end this fiscal year." She would answer the topic with a "yes."
Bellini ratcheted her full year earnings estimates on Amazon sharply higher: from 36 cents to 87 cents for FY12 and from $2.11 to $2.67 for FY13. The Street is currently expecting FY12 EPS of $1.24 and FY13 EPS of $2.54.
With Amazon.com shares last trading around $228, Bellini's new price target represents potential upside of about 32 percent.
For an analyst ratings summary and ratings history on Amazon.com click here. For more ratings news on Amazon.com click here.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Amazon.com (AMZN) Appstore Now Available in 200 Markets
- Goldman Sachs Upgrades Abbott Labs (ABT) to Buy
- Amazon (AMZN) Expands Kindle Fire HD into 170 Additional Markets
Create E-mail Alert Related Categories
Hot Upgrades, UpgradesRelated Entities
Goldman Sachs, Earnings
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
