UPDATE: Goldman Sachs Assumes Coverage on Amazon.com with Buy Rating, $315 PT
In a report published Wednesday, Goldman Sachs Group assumed coverage on Amazon.com (NASDAQ: AMZN) with a Buy rating and $315.00 price target.
Goldman Sachs noted, “We are assuming coverage of Amazon from Heather Bellini with a Buy rating and $315 12-month price target. We believe ecommerce growth, driven by shrinking traditional retail footprints and favorable consumer demographics, and AMZN's share of it, should continue to exceed expectations. Based on that growth, along with margin expansion from both core and emerging businesses, we forecast revenue to grow 5.4% above consensus and EBITDA 18.7% above, on average, over the next 3 years. Macro environment, competition, & rate of investment in emerging businesses remain risks, but in our view are more than offset by what we see as the most compelling long-term growth runway in the sector.”
Amazon.com closed on Tuesday at $266.38.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.