Buy the Dip in Amazon (AMZN) after Miss - Susquehanna

Susquehanna analyst Shyam Patil reiterated its Positive rating and $900 price target on Amazon.com (NASDAQ: AMZN) despite Q4 results that missed aggressive estimates, though came in ahead of guidance. The firm recommends clients buy the dip.

"Taking a step back, even though 4Q missed, the business is doing fine and our thesis is unchanged," Patil said. "We see AMZN as a long term secular grower with leadership positions in two large growth markets – e-commerce and cloud…and expect numbers to move higher over time. We are reiterating our Positive rating and $900 PT based on our SOTP analysis"

The firm is maintaining 2016 and 2017 revenue estimates but lowering 2016/2017 CSOI by 12%/19%.

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 $635.35 yesterday.

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