UPDATE: Deutsche Bank Reiterates Buy Rating, Raises PT on Amazon.com
In a report published Wednesday, Deutsche Bank reiterated its Buy rating on Amazon.com (NASDAQ: AMZN), and raised its price target from $305.00 to $315.00.
Deutsche Bank noted, “Amazon reported gross profit and EBITDA 10% and 31% above our estimates. The key metric we follow to track the progress of AMZN's business is gross profit ex-fx, which was up 44% Y/Y, accelerating the quarter as the company shifts more units to 3-P and generates more contribution dollars per 1-P and 3-P unit. Stated another way, AMZN is growing north of 40% and is getting better unit economics. There is some concern about decelerating unit growth, but we think this is a function of AMZN choosing not to chase unprofitable retail units in favor of higher-contribution 3-P. AMZN continues to execute its long term strategy of retail dominance. Shares remain Buy rated.”
Amazon.com closed on Tuesday at $260.35.
Latest Ratings for AMZN
|Nov 2014||Piper Jaffray||Maintains||Overweight|
|Nov 2014||Nomura||Initiates Coverage on||Buy|
|Oct 2014||Morgan Stanley||Initiates Coverage on||Overweight|
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