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Amazon.com (AMZN) PT Lowered to $4,250 at BofA Securities

July 30, 2021 7:59 AM EDT
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Price: $180.38 +0.31%

Rating Summary:
    65 Buy, 5 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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BofA Securities analyst Justin Post lowered the price target on Amazon.com (NASDAQ: AMZN) to $4,250.00 (from $4,350.00) after revenue/GAAP EPS of $113.1bn/$15.12 fell short of the Street consensus of $115.2bn/$12.23. Revenue was 2% below Street and at the midpoint of guidance after beating guidance for last 5 quarters.

The analyst reiterated a Buy rating, stating "Higher mobility & vaccination rates are leading to lower Online penetration, impacting revenue growth (potentially for several quarters). 3Q guidance was also below the street, but management emphasized 2-Yr growth rates, and we note, despite miss, 3Q is expected to grow 26% annualized vs 3Q’19, well above 2019 at 20%."



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