Nomura Securities Maintains a 'Neutral' on Amazon.com (AMZN); 4Q Preview
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Price: $262.65 -0.94%
Rating Summary:
68 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
68 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Neutral' on Amazon.com (NASDAQ: AMZN) price target of $220.00.
Analyst, Brian Nowak, said, "AMZN guided 4Q GAAP EBIT to between -$200mn and $250mn, implying a midpoint of ~$0. While we continue to have our concerns about higher-than-expected forward margin pressure in 2012 and 2013, we are forecasting a 4Q GAAP profit of ~$152mn and CSOI of $~347mn (toward the top-end of guidance and ~$100mn above the Street). We are modestly trimming our 4Q:11 N. American merchandise revenue growth and international constant currency revenue growth. For 2012 we are lowering our 2012 revenue estimate by 2% and CSOI estimate by 4%. We continue to believe the Street is underestimating AMZN’s forward margin pressure from its simultaneous spending on Retail (bricks), Media (flicks) and Tech (clicks). We remain 8% and 24% below the 2012 and 2013 consensus CSOI estimates and maintain our rating & PT."
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 $194.45 yesterday.
Analyst, Brian Nowak, said, "AMZN guided 4Q GAAP EBIT to between -$200mn and $250mn, implying a midpoint of ~$0. While we continue to have our concerns about higher-than-expected forward margin pressure in 2012 and 2013, we are forecasting a 4Q GAAP profit of ~$152mn and CSOI of $~347mn (toward the top-end of guidance and ~$100mn above the Street). We are modestly trimming our 4Q:11 N. American merchandise revenue growth and international constant currency revenue growth. For 2012 we are lowering our 2012 revenue estimate by 2% and CSOI estimate by 4%. We continue to believe the Street is underestimating AMZN’s forward margin pressure from its simultaneous spending on Retail (bricks), Media (flicks) and Tech (clicks). We remain 8% and 24% below the 2012 and 2013 consensus CSOI estimates and maintain our rating & PT."
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 $194.45 yesterday.
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