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UPDATE: Raymond James Upgrades 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 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%.” Inc. is currently up 8 percent right at the open after closing at 332.21 on Thursday.

Latest Ratings for AMZN

Oct 2015AxiomMaintainsBuy
Oct 2015Canaccord GenuityMaintainsHold
Oct 2015BairdMaintainsBuy

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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