Oppenheimer Cuts Price Target On Amazon.com (AMZN) But Remains Positive
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Price: $177.11 -1.35%
Rating Summary:
65 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
65 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Oppenheimer lowered its price target on Amazon.com (NASDAQ: AMZN) from $270 to $255 after updating is model for Q3 results and Q4 guidance.
The firm comments, "The decrease reflects modestly lower long-term US EGM and margins, partly offset by a lower long-term tax rate and higher Int'l EGM. While investors' initial reaction to 4Q guidance was negative, we believe most are willing to wait to judge margins until 1Q, when the cost to add Prime customers is meaningfully lower. Meanwhile, the Street should now be assuming reduced share gains, which have become normal in 4Q."
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 $217.00 yesterday.
The firm comments, "The decrease reflects modestly lower long-term US EGM and margins, partly offset by a lower long-term tax rate and higher Int'l EGM. While investors' initial reaction to 4Q guidance was negative, we believe most are willing to wait to judge margins until 1Q, when the cost to add Prime customers is meaningfully lower. Meanwhile, the Street should now be assuming reduced share gains, which have become normal in 4Q."
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 $217.00 yesterday.
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