Morgan Keegan Initiates Amazon Coverage: Outperform, $210 PT

Morgan Keegan initiated coverage of Amazon

with an Outperform rating and $210 price target in a research report published Wednesday afternoon after market close. In the report, Morgan Keegan states, ""Amazon's efforts in Kindle and infrastructure ultimately hurt margins near term, but yield tremendous future payoffs. We believe Amazon is setting the stage for aggressive pushes into fashion and consumables which, if successful, could transform Electronics and General Merchandise (EGM) into a >$100 billion business by 2015E." Shares of Amazon were trading at $180.40 at the time of posting in after-hours trading, up 0.11% from Wednesday's market close of $180.21.