Amazon (AMZN) PT Lifted to $630 at Baird on 'Pristine' Quarter
Baird analyst Colin Sebastian reiterated an Outperform rating and boosted his price target on Amazon.com (NASDAQ: AMZN) to $630.00 (from $475.00) following a "pristine quarter almost across the board."
Sebastian commented, "While Amazon was increasing seen as a “consensus long” following the surprise AWS segment results released in April, we believe the combination of accelerating growth and higher-than-expected margins will prove irresistible to investors. Overall, results support our long-term thesis on multiple levels and our large-cap Internet bias, as Amazon establishes wider competitive moats in key markets (Retail/Technology), albeit more quickly than originally anticipated."
The firm adjusted FY 2015 EPS from $0.96 to $0.92 and FY 2016 EPS from $3.26 to $2.43.
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Shares of Amazon.com closed at $482.18 yesterday.