Piper Jaffray Reiterates Overweight Rating, $329 PT on Amazon.com
In a report published Wednesday, Piper Jaffray reiterated its Overweight rating and $329.00 price target on Amazon.com (NASDAQ: AMZN).
Piper Jaffray noted, “Amazon reported Dec-12 revenue of $21.3B, 5% below the Street, while CSOI was $678m ahead of the Street's $493m. CSOI margin of 3.2% marked the first y/y increase as a percentage of revenue since Mar-10. Despite the revenue miss, the bottom line is that eCommerce growth remains an undeniable trend (~7% of retail is online in the US, potentially growing to 30% over the next 10-20 years), and the y/y CSOI improvement offers optimism that more substantial margin improvement will be realized down the road. We are maintaining our Overweight rating and $329 price target.”
Amazon.com closed on Tuesday at $260.35.
Latest Ratings for AMZN
|Sep 2015||RBC Capital||Maintains||Outperform|
|Aug 2015||Raymond James||Upgrades||Outperform||Strong Buy|
|Aug 2015||Evercore ISI||Upgrades||Hold||Buy|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.