UPDATE: Bank of America Reiterates Buy Rating, Raises PT on Amazon.com
In a report published Wednesday, Bank of America reiterated its Buy rating on Amazon.com (NASDAQ: AMZN), and raised its price target from $300.00 to $315.00.
Bank of America noted, “Amazon is an eCommerce leader with market share and margin potential stemming from its global scale, fulfillment footprint and technology platform investments. We think Amazon's focus on the customers and the buyer experience is right for the Internet, and we consider Amazon a transformational company. We think Amazon is well positioned to capitalize on the global growth of eCommerce and other secular trends such as cloud computing, online advertising, tablets, and mobile commerce.”
Amazon.com closed on Tuesday at $260.35.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.