UPDATE: Canaccord Raises Amazon.com's PT

According to a research report published this morning, Canaccord has increased Amazon.com's

PT from $210 to $230. In the report, Canaccord said, "Amazon delivered a solid revenue recovery along with very low margin outlook due to distribution spending. We are encouraged by digital media strength, but suspect that after a revenue-relief rally, the stock will remain largely range-bound until margins can recover closer to the end of this investment cycle." Canaccord maintains its Hold rating on Amazon.com, which closed yesterday at $195.99.