Amazon (AMZN) PT Raiesd to $875 at Macquarie
Macquarie analyst Ben Schachter reiterated an Outperform rating and raised its price target on Amazon.com (NASDAQ: AMZN) to $875.00 (from $760.00) following Q2 results.
Schachter commented, "We think AMZN is in a position to have its best 4Q ever, and by a wide margin. 2Q results are a reminder that this model scales really, really well. The 2Q 4.2% op margin was the company’s highest since 2010, and while 3Q guidance is relatively disappointing on the margin front, we believe that this is in preparation of 4Q where we will once again return to growing margins. As we have previously stated, at a high level, the AMZN story is as simple as it’s ever been. Only two things matter: Prime and AWS, both of which are dominating and we believe will continue to do so. We also believe that both will continue to allow the company to expand margins even as it invests in fulfillment, video, India, AWS capacity, and emerging businesses."
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Shares of Amazon.com closed at $752.61 yesterday.