Citi Reiterates Buy On Amazon (AMZN) - Amazon.com (NASDAQ:AMZN)

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Citi Investment Research is reiterating its Buy rating and $190 price target on Amazon.com, Inc. (NASDAQ: AMZN).In a note sent to clients, Citi writes, "Even with the 27% YTD price increase, we still view favorably the long-term risk-reward on AMZN shares and continue to view the company as the best play off the secular growth in Online Retail. Our $190 PT is based on 30X our 2012 Adjusted EPS of $6.41 or 20X our 2012 FCF of $4.49B. We continue to believe that AMZN's 30%+ EPS growth outlook and its high conversion of EPS into FCF warrant a material market premium."Shares of AMZN lost $2.19 yesterday to close at $168.20, a loss of 1.3%.

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