Amazon (AMZN): Susquehanna Says "Back Up The Truck", Reiterates $1,250 PT
Susquehanna Positive Amazon.com (NASDAQ: AMZN) price target of $1,250.00.
Analyst Shyam Patil comments "Ourthoughtsgoingforwardandupcomingcatalysts. At a high level, 4Q continued to demonstrate AMZN’s secular strength in e-commerce and cloud. However, given the slight 4Q revenue miss and modestly lower 1Q17 CSOI guide, shares may be under pressure in the near term. We continue to view AMZN as one of the top large-cap growth stories in Internet and would recommend buying shares aggressively on any potential dislocation. We see estimates continuing to move higher over time. Catalysts include intra-quarter e-commerce data, company-specific events (such as the AWS summits), AWS product announcements and pricing decisions, and quarterly results."
Side nugget: Patil notes that "AMZN has tended to outperform the high end of its CSOI guidance, doing so in six of the last eight quarters."
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Shares of Amazon.com closed at $839.95 yesterday.