Amazon (AMZN) PT Raised to $888 at Stifel
Get Alerts AMZN Hot Sheet
Rating Summary:
65 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Join SI Premium – FREE
Stifel analyst Scott Devitt reiterated a Buy rating and boosted his price target on Amazon.com (NASDAQ: AMZN) to $888.00 (from $775.00) following an 'impressive' quarter with rising marigns.
Devitt commented, "Amazon reported an impressive quarter as revenue and margins exceeded our and consensus estimates as well as surpassed the high-end of guidance. The growth in Prime membership and increased selection driven by FBA continues to deliver strong top-line growth, and margins are supported by AWS and NA retail. Going into the quarter, we anticipated investment in logistics, AWS, and strategic geographic regions could work against the margin expansion. While we believe there will be heightened investment in these areas (which we support) that may make the progression to higher margins long-term bumpy, we must respect where the business is now. Relative to previous investment cycles, Amazon has more levers to offset the hit to margin. We are raising our 2016-2018 estimates; though remain below consensus in 2017/2018. Amazon remains well positioned as the leader in eCommerce and cloud services. We are raising our target price to $888."
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 $602.00 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Amazon.com (AMZN) PT Raised to $215 at UBS
- Acrivon Therapeutics Inc (ACRV) PT Lowered to $22 at Jones Trading
- TechnipFMC (FTI) PT Raised to $30 at BTIG
Create E-mail Alert Related Categories
Analyst Comments, Analyst PT ChangeRelated Entities
StifelSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!