Amazon (AMZN) Bullish View Reiterated at Mizuho Despite Op Margin Pressure
Mizuho Securities analyst Neil Doshi reiterated a Buy rating and $920 price target on Amazon.com (NASDAQ: AMZN)
The analyst commented, "Amazon may have just kissed op margin expansion good bye for the rest of this year and possibly for next year, as it is plowing investments into key growth areas with Fulfillment centers, India and Content (original video), as well as Alexa/Echo, and same-day/next day shipping. While this does put some pressure on op margins in 4Q and potentially in 2017, we believe that this should create more flywheels and drive higher margin business over time. We reiterate our Buy rating on AMZN shares."
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Shares of Amazon.com closed at $818.36 yesterday.