UPDATE: Credit Suisse Reiterates Outperform Rating, Raises PT on Amazon.com
In a report published Wednesday, Credit Suisse reiterated its Outperform rating on Amazon.com (NASDAQ: AMZN), and raised its price target from $301.00 to $334.00.
Credit Suisse noted, “After the close on January 30th, Amazon reported solid 4Q12 results. While revenue was modestly below our forecast, consolidated segment operating income (CSOI) of $678 million (up 47% year over year), beat our $568 million forecast (and was above the high end of guidance). Consequently, CSOI margin of 3.2% vs. 2.7% in 4Q11 was 70 bps above our 2.5% forecast, helped by continued upside in gross margin.”
Amazon.com closed on Tuesday at $260.35.
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Tags: Credit Suisse