Amazon (AMZN) Execution 'Flawless' in Q2, Mizuho Says; PT Up to $645

Mizuho Securities analyst Neil Doshi reiterated a Buy rating and raised his price target on Amazon.com (NASDAQ: AMZN) to $645.00 (from $498.00) following strong Q2 results.

Doshi commented, "Amazon's 2Q execution was about as flawless as one could hope for. Revenue growth (ex-FX) accelerated to 27% YoY vs. 21% YoY in 1Q, which marked the strongest growth we’ve in about 3 years. Gross Margins reached a record high of ~35%, and CSOI margin was 4.6%; the strongest we’ve seen since 1Q11. While Amazon continues to invest in the biz, the flywheels are kicking in – Prime subscribers are transacting more on Amazon, while investments in FCs, 3P and AWS are helping to drive margins higher."

For an analyst ratings summary and ratings history on Amazon.com click here. For more ratings news on Amazon.com click here.

Shares of Amazon.com closed at $482.18 yesterday.

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