Market Overview

UPDATE: Goldman Sachs Assumes Coverage on Amazon.com with Buy Rating, $315 PT

Share:
Related AMZN
Cantor Fitzgerald: What To Do With Internet Stocks Now
Cantor Fitzgerald Sees Recent Selloff As Opportunity To Buy Cheap Names With Protective Moats
This is Not Over - September 4 2015 (Marketfy Insights)

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.

Latest Ratings for AMZN

DateFirmActionFromTo
Aug 2015Raymond JamesUpgradesOutperformStrong Buy
Aug 2015Evercore ISI UpgradesHoldBuy
Jul 2015Stifel NicolausUpgradesHoldBuy

View More Analyst Ratings for AMZN
View the Latest Analyst Ratings

Posted-In: Goldman Sachs GroupAnalyst Color Initiation Analyst Ratings

 

Related Articles (AMZN)

View Comments and Join the Discussion!

Get Benzinga's Newsletters