Amazon.com (AMZN) Named Top Large Cap Pick for 2015 at Piper Jaffray

Piper Jaffray analyst Gene Munster is naming Amazon.com (NASDAQ: AMZN) his Top Large Cap Pick for 2015. The firm reiterated an Overweigh rating and price target of $400.

Munster commented, "Amazon is our top large cap pick for 2015. Our recommendation is based on our belief that while investors may not get a nirvana margin moment in 2015, they will become increasingly confident that the business will scale longer term. We believe this increased understanding in the defensibility of Amazon's marketplace, growth potential, and margin opportunity will move shares of AMZN higher in 2015. Longer-term (year plus), we believe margins can improve significantly (from 1% to 6%+ PF operating margin), driven by improvements in eCommerce margins, growth of AWS, and growth in other, high-margin businesses (advertising, local, and potentially travel)."

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 $298.88 yesterday.

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