Citi Upgrades Amazon.com (AMZN) to Buy; Raises Price Target
AMZN Hot Sheet
Rating Summary:21 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Citi upgrades Amazon.com (Nasdaq: AMZN) from Hold to Buy. Price target increased from $65 to $97.
Citi analyst says, "How We Could Be Upgrading AMZN Here - Given that we downgraded AMZN on Recession risks at $52 on 11/5, this call should be treated skeptically. Further, in contrast to the 6 recent upgrades we have made, this is not a 'things are getting Less Worse' call - it's hard to say things are getting Less Worse for a stock with AMZN's trajectory & valuation. But a series of datapoints & upcoming events provide us with an intriguing entry point. Hence the upgrade."
The Citi analyst highlights 3 Reasons To Buy AMZN - 1) Potentially faster than expected operating margin recovery; 2) '09 results could amplify AMZN's scarcity value & 3) AMZN's robust top-line growth
rate may be more sustainable than expected.
Amazon.com, Inc. (Amazon.com) offers services to consumer customers, seller customers and developer customers.
To see more analyst ratings on AMZN Click Here.
Citi analyst says, "How We Could Be Upgrading AMZN Here - Given that we downgraded AMZN on Recession risks at $52 on 11/5, this call should be treated skeptically. Further, in contrast to the 6 recent upgrades we have made, this is not a 'things are getting Less Worse' call - it's hard to say things are getting Less Worse for a stock with AMZN's trajectory & valuation. But a series of datapoints & upcoming events provide us with an intriguing entry point. Hence the upgrade."
The Citi analyst highlights 3 Reasons To Buy AMZN - 1) Potentially faster than expected operating margin recovery; 2) '09 results could amplify AMZN's scarcity value & 3) AMZN's robust top-line growth
rate may be more sustainable than expected.
Amazon.com, Inc. (Amazon.com) offers services to consumer customers, seller customers and developer customers.
To see more analyst ratings on AMZN Click Here.
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