Market Overview

UPDATE: Oppenheimer Reiterates Outperform Rating, Raises PT on Amazon.com

Share:
Related AMZN
These Notable Execs Cleaned Out Their Desk Drawers In 2016
Best Buy's Results Were 'Downright Amazon-Like'
Garmin Stock Cut To Sell By Goldman Sachs On Fitness Headwinds (Investor's Business Daily)

In a report published Wednesday, Oppenheimer reiterated its Outperform rating on Amazon.com (NASDAQ: AMZN), and raised its price target from $264.00 to $325.00.

Oppenheimer noted, “We believe the AMZN story remains on track, with meaningful share gains through strong customer growth and steady increases in share of wallet. Once again, gross profit upside was driven by the shift to 3P and AWS. Gross profits increased 43% y/y, 11% above our estimate, while operating income was 19% above consensus. 1Q guidance was below consensus estimates, but given the upside to 4Q, and the company's history of beating guidance, we believe investors will remain involved in the stock. Raising 2013 SOI estimate by 11%, reflecting 2.8% margins on shift to 3P and AWS. Raising target to $325 from $264, maintaining Outperform.”

Amazon.com closed on Tuesday at $260.35.

Latest Ratings for AMZN

DateFirmActionFromTo
Aug 2016MKM PartnersMaintainsBuy
Jul 2016JP MorganMaintainsOverweight
Jul 2016JefferiesMaintainsBuy

View More Analyst Ratings for AMZN
View the Latest Analyst Ratings

Posted-In: OppenheimerAnalyst Color Price Target Analyst Ratings

 

Related Articles (AMZN)

View Comments and Join the Discussion!