Amazon (AMZN) PT Lifted to $700 at Credit Suisse Amid Strong Q2
Credit Suisse analyst S. Ju reiterated an Outperform rating and boosted its price target on Amazon.com (NASDAQ: AMZN) to $700.00 (from $480.00) following better-than-expected 2Q15 results.
Ju noted, "Revenue of $23.2b +27% x-FX was modestly above our est, CSOI was $1.08b (vs. $404mm in 2Q14) and our $465mm. Consequently, CSOI margin was 4.6% vs. 2.1% in 2Q14 was 260bps above our 2.1% estimate. We have increased our FY15 EGM & AWS revenue estimates by 1.8% and 6.1% respectively, as we flow through the stronger-than-expected results."
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Shares of Amazon.com closed at $482.18 yesterday.