UPDATE: Citi Starts Amazon.com (AMZN) at Buy

July 9, 2013 5:28 PM EDT Send to a Friend
Get Alerts AMZN Hot Sheet
Price: $299.90 +0.73%

Rating Summary:
    30 Buy, 16 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 14 | Down: 28 | New: 51
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(Updated - July 10, 2013 7:09 AM EDT)

Citi initiates coverage on Amazon.com (NASDAQ: AMZN) with a Buy rating and $340 price target.

Analyst Mark May comments, "Amazon and Google rank as the most consistently innovative and disruptive companies in our universe, and consistency counts in this sector. Our analysis suggests that Amazon's retail business trades at a comparable multiple to retailers like WMT as does its AWS/advertising business to its IaaS, SaaS and advertising comps despite both segments having significantly faster growth and optionality. We believe investors under-estimate the impact that 3P mix and fixed infrastructure leverage in the U.S. will have on the retail margins, and they under-estimate the opportunity for AWS, esp. in the hybrid/private cloud arena. We think the stock can trade to $340 TP over the next 12 months as these factors are recognized."

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 $290.59 yesterday.


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