BWS Financial Upgrades Amazon.com (AMZN) from Sell to Hold
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BWS Financial upgrades Amazon.com (Nasdaq: AMZN) from Sell to Hold. Price target lowered to $54.
BWS analyst says, "We are taking the opportunity in the market to upgrade our rating to a Hold, as the shares have reached a point where the downside would depend on the sell-off in the market. By no means does this upgrade remove the fundamental risks AMZN faces in a slowing economic environment in the US and abroad. The upgrade is based purely on valuation...We would recommend not having an open position in AMZN shares ahead of the earnings results, and would wait to see if the Company has more clarity than is currently presented in the channel."
Amazon.com, Inc. (Amazon.com) operates retail Websites, which enables its consumer customers to find and discover anything they might want to buy online.
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