Amazon.com (AMZN) PT Raised to $1,200 at Piper Jaffray

Piper Jaffray raised its price target on Amazon.com (NASDAQ: AMZN) to $1,200.00 (from $1,050.00) while maintaining a Overweight rating.

Analyst Mike Olson says QTD Amazon search index shows no Q2 2017 deceleration which is in line with his expectations. He believes strength in the retail unit growth has been driven by share gains from prime Now, tailwinds which continue from Prime adoption, int'l expansion and penetration and hardware (ECHO) tailwinds.

FY 2017 EPS estimate remains at $6.76 and FY 2018 EPS estimate remains at $13.35.

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