Amazon.com's (AMZN) High Margin Businesses Offset the Retail Miss - Jefferies
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Jefferies analyst Brent Thill reiterated a Buy rating and $4,200.00 price target on Amazon.com (NASDAQ: AMZN) after the company reported a rare miss with Revenue coming in 2% light. The highest margin businesses accelerated again in 2Q, while core-Retail decelerated from difficult comps and increased mobility.
The analyst stated "Despite 3Q revenue guidance coming in below consensus, our revised estimates imply core-Retail growth will remain above pre-pandemic levels on a 2-year basis. We are reducing 2021 Sales growth from 27% to 22%, as higher estimates for AWS/Adv are more than offset by lower estimates for core-Retail".
Shares of Amazon.com closed at $3599.92 yesterday.
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