Amazon.com (AMZN) PT Raised to $2,550 at Baird; 'High Demand, High Expenditures'

Baird analyst Colin Sebastian raised the price target on Amazon.com (NASDAQ: AMZN) to $2,550.00 (from $2,275.00) while maintaining an Outperform rating after adjusting estimate to account for high demand.

The analyst commented, "We are increasing our Q1/Q2 revenue estimates for Amazon (one of Baird's top 2020 picks) while trimming our profitability outlook below the street, balancing strong consumer e-commerce trends with recent logistical challenges and added headcount. Beyond the C-19 crisis and recession, Amazon should emerge in a stronger position with greater share in Grocery/Essentials categories and improvements to the logistics operation. With shares YTD (+24%) significantly outperforming S&P (-15%), we note that lowered margin expectations and recession-related commentary could create another buying opportunity."

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