Pacific Crest Downgrades Amazon.com (AMZN) to Sector Weight
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Pacific Crest downgraded Amazon.com (NASDAQ: AMZN) from Overweight to Sector Weight.
Analyst Edward Yruma downgrades Amazon note this is "as good as it gets" as the stock approaches his previous $961 target. He sees moderating sales growth and retail competition intensifying. He also sees competition in the cloud heating up as Microsoft (NASDAQ: MSFT) Azure gains ground (+93% y/y growth according to the release Thursday after-hours).
FY 2017 EPS estimate falls from $7.73 to $7.18 and FY 2018 EPS estimate falls from $13.11 to $12.00.
Shares of Amazon.com closed at $918.38 yesterday.
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