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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 2014Piper JaffrayMaintainsOverweight
Nov 2014NomuraInitiates Coverage onBuy
Oct 2014Morgan StanleyInitiates Coverage onOverweight

View More Analyst Ratings for AMZN
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Downgrades Analyst Ratings

 

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