Broadpoint.Amtech Starts Amazon.com (AMZN) at Neutral
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Broadpoint.Amtech initiates coverage on Amazon.com (Nasdaq: AMZN) with a Neutral rating and $87 price target.
Analyst Benjamin Schachter said, "Despite very positive long-term revenue and margin growth prospects, valuation, uncertainty surrounding the broader macro outlook, and a lack of visibility around near-term drivers keep us on the sidelines for now." Schachter also notes that while core business execution continues, new growth drivers are still unproven.
Schachter rhetorically asks "would we put new money to work in the stock right now?" - Answering "No!"
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