Deutsche Bank Reiterates a 'Buy' on Amazon.com (AMZN); Powering Through The Skepticism

Deutsche Bank reiterates a 'Buy' on Amazon.com (NASDAQ: AMZN) price target raised from $235 to $285.

Analyst, Lloyd Walmsley, said, "Amazon's 49% unit growth showed essentially no deceleration, gross margins beat, and operating profit dollar growth looks ready to resume growth in 2H 2012. With deep skepticism into the quarter, shares appear set to rebound following solid results and guidance, and we think investors will increasingly revisit the story as operating profits grow in 2H."

"For 2Q, we are now modeling revs/EBIT/EPS at $12.94bn/$224mn/$0.38 vs. $12.33bn/$223mn/$0.38 previously. Our 2012 estimates are now for revs of $63.04bn (up from $61.0bn), EBIT of $1.85bn (up from $1.76bn) and EPS of $2.94 (up from $2.91). We are also adjusting our 2013 revs/EBIT/EPS estimates to $80.86bn/$2.88bn/$4.67 (from $76bn/$2.79bn/$4.50)."

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 $195.99 yesterday.

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