UPDATE: Canaccord Genuity Reiterates Hold Rating, Raises PT on Amazon.com
In a report published Wednesday, Canaccord Genuity reiterated its Hold rating on Amazon.com (NASDAQ: AMZN), and raised its price target from $290.00 to $300.00.
Canaccord Genuity noted, “Amazon's Q4 showed continuation of existing trends – GMV/top-line momentum heavily influenced by the shift to 3P, which put pressure on revenue but contributed to very strong gross profit. We believe the stock's positive reaction in the face of guidance for weaker revenue and low operating margin signals that investors are highly focused on GMV and gross profit growth.”
Amazon.com closed on Tuesday at $260.35.
Latest Ratings for AMZN
|Aug 2015||Raymond James||Upgrades||Outperform||Strong Buy|
|Aug 2015||Evercore ISI||Upgrades||Hold||Buy|
|Jul 2015||Stifel Nicolaus||Upgrades||Hold||Buy|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.