UPDATE: Piper Jaffray Lowers Price Target on Amazon to $218

By John Harris
Benzinga Staff Writer
February 15, 2012 12:09 PM

Symbols: AMZN

Posted in: Analyst Color, Price Target, Analyst Ratings

According to Piper Jaffray, Amazon.com (NASDAQ: AMZN) price target is lowered to $218.

Piper Jaffray said that Amazon remains one of our top picks, and the best long term play on eCommerce despite its high valuation. “We are lowering our 2012 June quarter estimates to $12.2B from $12.4B due to a tough y/y comp.”

Amazon.com closed yesterday at $191.30.

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UPDATE: Piper Jaffray Lowers Price Target on Amazon to $218

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