Amazon (AMZN) PT Raised to $850 at Baird
Baird analyst Colin Sebastian reiterated an Outperform rating and lifted his price target on Amazon.com (NASDAQ: AMZN) to $850.00 (from $800.00) as revenue growth accelerates yet again, fueled by Prime flywheel.
Sebastian commented, "AMZN reported Q2 revenue growth/margin expansion well-above consensus expectations, driven by broad-based strength across e-commerce, including rebounding International sales. As highlighted in our retail category deep-dive, Amazon's accelerating EGM growth reflects the significant runway left within several key retail categories, and while investments in fulfillment capacity/logistics are required to capitalize on these opportunities, a more gradual pace of margin expansion will be offset by significant retail/enterprise IT share-gains,a key positive. Reiterate Outperform rating, new $850 price target."
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Shares of Amazon.com closed at $752.61 yesterday.