SunTrust's Bob Peck issued a note Tuesday alerting investors to a glitch in Amazon.com, Inc.'s AMZN search function. Users on Amazon's seller forum reported that Amazon said at the time that it was a "known glitch." At present, it appears the site is functioning normally.
Peck warns investors, however, to not immediately discount this issue, noting that it was unclear if it was related to an Amazon software update or a hack.
SunTrust has a Buy rating on Amazon with a price target of $360 – a 24 percent premium from Tuesday's closing price of $289.44.
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