Topeka Reasseses Amazon Estimates
In a note published Friday, Topeka Capital Markets analyst Victor Anthony reassessed estimates on Amazon.com (NASDAQ: AMZN).
Topeka Capital Markets data on fourth quarter peak day sales over the past years suggests that Amazon is likely to report material upside to consensus revenue estimates in the 2013 fourth quarter. The analyst increased his revenue estimate for 4Q13 by 4% at the high-end of guidance and above consensus by 2%.
Anthony trimmed the CSOI margin estimate from 3.1% to 2.8% and raised the year end price target from $405 to $485. Topeka reported, “Amazon's valuation is supported by share gains in retail with benefits from Prime, growth of AWS, strength in digital media consumption devices, and a growing advertising opportunity.”
Shares of Amazon closed at $398.79 on Thursday.
Latest Ratings for AMZN
|Mar 2017||Barclays||Initiates Coverage On||Overweight|
|Jan 2017||Aegis Capital||Initiates Coverage On||Buy|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.