FBR Research Raises Price Target and 2010 Estimates on Amazon.com (AMZN)

December 2, 2009 6:50 AM EST

FBR Research raises price target on Amazon.com (Nasdaq: AMZN) from $130 to $160.

FBR analyst says, "Based on our checks and numerous online reports, we believe that both online retail in general and Amazon in particular continue to take significant share from traditional retail during the early days of the holiday season. Despite aggressive promotions from traditional retailers, the convenience, price/tax advantages, and selection offered by online retailers are driving growth estimated to be 11%-25% higher. With Amazon's traffic growth outpacing almost all competitors and a strong showing for the Kindle, we believe that Amazon is tracking ahead of consensus expectations for the holiday season. We are raising our estimates for 4Q slightly and for 2010 to reflect these share gains...For 4Q, our revenue and EPS estimates go from $9.08B and $0.70 to $9.20B and $0.72; for 2010, our estimates go from revenues of $28.78B and EPS of $2.35 to $30.04B and $2.58."

To see all the upgrades/downgrades on shares of AMZN, visit our Analyst Ratings page.

Amazon.com, Inc. (Amazon.com) offers services to consumer customers, seller customers and developer customers.

Related Categories

Analyst Comments

Stocks Mentioned

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?