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UPDATE: Raymond James Upgrades Amazon.com Inc from Market Perform to Strong Buy, Announces $446.00 Price Target

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In a report published Friday, Raymond James Analyst Aaron Kessler upgrades Amazon.com Inc. (NASDAQ: AMZN) from Market Perform to a Strong Buy and established a $446 PT.

Kessler noted 3 primary reasons for the upgrade, “1) Continued revenue momentum with accelerating growth in the U.S. - Amazon also noted millions of new prime subscribers added in the quarter; 2) Strong AWS (Amazon Web Services) growth - we estimate growth of ~77% in 2013; 3) Our expectation for improving margins in 2014 and beyond (i.e., larger more automated warehouses, improving international margins). Ultimately we believe long-term non-GAAP operating margins can reach ~10%.”

Amazon.com Inc. is currently up 8 percent right at the open after closing at 332.21 on Thursday.

Latest Ratings for AMZN

DateFirmActionFromTo
Jul 2014B RileyDowngradesBuyNeutral
Jul 2014Raymond JamesDowngradesOutperformMarket Perform
Jul 2014Canaccord GenuityMaintainsHold

View More Analyst Ratings for AMZN
View the Latest Analyst Ratings

Posted-In: Analyst Color News Upgrades Price Target Analyst Ratings

 

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