Amazon (AMZN) Execution 'Flawless' in Q2, Mizuho Says; PT Up to $645
Mizuho Securities analyst Neil Doshi reiterated a Buy rating and raised his price target on Amazon.com (NASDAQ: AMZN) to $645.00 (from $498.00) following strong Q2 results.
Doshi commented, "Amazon's 2Q execution was about as flawless as one could hope for. Revenue growth (ex-FX) accelerated to 27% YoY vs. 21% YoY in 1Q, which marked the strongest growth we’ve in about 3 years. Gross Margins reached a record high of ~35%, and CSOI margin was 4.6%; the strongest we’ve seen since 1Q11. While Amazon continues to invest in the biz, the flywheels are kicking in – Prime subscribers are transacting more on Amazon, while investments in FCs, 3P and AWS are helping to drive margins higher."
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Shares of Amazon.com closed at $482.18 yesterday.