Oppenheimer Upgrades Amazon.com (AMZN) to Outperform
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Oppenheimer resumes coverage on Amazon.com (Nasdaq: AMZN), also upgrading the stock from Perform to Outperform.
The firm believes a "sales deceleration" that started last year "bottomed and started to reverse" in Q2. Oppenheimer expects Amazon's sales growth to "steadily re-accelerate and increasingly exceed still-subdued Street forecasts."
Traders seem to be cheering the upgrade this morning, buying shares of Amazon. The stock most recently traded at $96.50, up nearly 2% from yesterday's close.
Visit our Analyst Ratings page to see all the upgrades/downgrades on shares of Amazon.com.
Amazon.com, Inc. operates as an online retailer in North America and internationally.
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