In a note released Wednesday morning, Deutsche Bank analyst Ross Sandler described his expectations for Amazon.com, Inc.'s AMZN third quarter earnings report.
Sandler rates Amazon a Buy with a $375 price target.
The main takeaway from Sandler's report is he expects Amazon to continue its string of "beat and guide below consensus" in the third quarter. He noted the Street is currently predicting 21 percent revenue growth for the fourth quarter, which he sees being guided in the "high-teens."
Despite this sentiment, Sandler still view Amazon as the "best name in western markets e-commerce."
Looking to the third quarter, Sandler expects the company to post a gross profit 2-3 percent above both Deutsche Bank's and consensus estimates. However, moving into the forth quarter he sees downside risk to consensus as retailers begin to fight back more aggressively than before.
Shares of Amazon were down 1.8 percent at $302.77.
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