Piper Jaffray Reiterates Overweight Rating, $297 PT on Amazon.com
In a report published Wednesday, Piper Jaffray & Co. reiterated its Overweight rating and $297.00 price target on Amazon.com (NASDAQ: AMZN).
Piper Jaffray noted, “Through the first 15 days of December, ChannelAdvisor Amazon sales were up 26% y/y, which compares to 44% and 42% in November and October. Quarter to date, Amazon is up an estimated 41%, a mild acceleration from 40% in the September quarter. We believe this indicates Dec-12 revenue in line with our model, which has North America revenue growing 27%, a deceleration from 33% in the September quarter.”
Amazon.com closed on Tuesday at $253.86.
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