UPDATE: Cantor Fitzgerald Reiterates Buy Rating, Raises PT on Amazon.com
In a report published Wednesday, Cantor Fitzgerald reiterated its Buy rating on Amazon.com (NASDAQ: AMZN), and raised its price target to $300.00.
Cantor Fitzgerald noted, “4Q revenues were (again) shy of expectations on faster growth in 3P and softer NA EGM business, but gross and operating margins showed better-than-expected leverage, an important development for Amazon, and one that may indicate the beginning of a trend, in our opinion. While Amazon is likely to continue to aggressively invest in growth, we view improving margins as a good development for the stock; we're maintaining a BUY rating and raising our PT to $300 for FY:13.”
Amazon.com closed on Tuesday at $260.35.
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