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Ahead of Amazon.com, Inc.'s (NASDAQ: AMZN) earnings on Thursday, analysts at JP Morgan maintained its Neutral rating, noting a positive bias, while upping its price target to $323 from $307.
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The analysts mention that profitability levels are “likely to remain challenged,” as the company invests in original video content and operations in China and India. However, analysts expect Prime memberships and North American gross margins to underpin performance.
JP Morgan decreased its FY15 EPS estimates by 0.8 percent in the face of strong foreign exchange headwinds and higher operating expenses. Those higher expenses also have the analysts slashing EPS estimates by 84 percent in FY16.