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UPDATE: JP Morgan Downgrades Amazon.com to Neutral; Profit Growth to Decelerate in 2013

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JP Morgan downgraded Amazon.com (NASDAQ: AMZN) from Overweight to Neutral and lowered the price target from $333.00 to $300.00.

JP Morgan analyst Doug Anmuth noted, "[O]ur proprietary bottom-up analysis suggests more material deceleration in gross profit growth to 31% in 2013 as: 1) 3P sales moderate; 2) first-party (1P) margins could compress on greater international mix and more devices; and 3) Amazon faces tougher comps. We continue to believe that Amazon will gain share of overall eCommerce and become a more valuable company over time, but think the near-term risk/reward at current levels is more balanced given slower unit trends and what we believe will be moderating gross profit growth in 2013."

Amazon.com closed at $275.10 on Wednesday.

Latest Ratings for AMZN

DateFirmActionFromTo
Nov 2014NomuraInitiates Coverage onBuy
Oct 2014Morgan StanleyInitiates Coverage onOverweight
Oct 2014Monness Crespi HardtInitiates Coverage onNeutral

View More Analyst Ratings for AMZN
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Downgrades Analyst Ratings

 

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