Analysts Continue to Like Amazon After Earnings
By Sam Mattera | January 31, 2013 3:19 AM EST
Shares of Amazon (NASDAQ: AMZN [FREE Stock Trend Analysis]) rallied early on Wednesday, up nearly 10 percent before pulling back somewhat. Despite missing analyst estimates, Amazon continued to add to its recent gains. Shares of Amazon are now up nearly 14 percent in the past 3 months.
The analyst community continues to like Amazon in the wake of the online retailer's earnings. Most of the major research houses reiterated buy ratings early Wednesday, nearly all increased their price targets.
Topeka raised its price target to $360 and reiterated its Buy rating.
Cantor Fitzgerald raised its price target to $300 and reiterated its Buy rating.
ISI International reiterated its Buy rating with a base case of $320.
Jefferies reiterated its Buy rating and raised its price target to $330 from $300.
Benchmark reiterated its Buy rating and raised its price target to $330.
Bank of America/Merrill Lynch reiterated its Buy rating and raised its Price Objective to $315
Deutsche Bank reiterated its Buy rating and raised its price target to $335.
JP Morgan raised its price target to $333 and reiterated its Overweight rating.
Goldman Sachs reiterated its Buy rating and raised its price target to $330.
Morgan Stanley reiterated its Overweight rating and $325 price target.
Canaccord reiterated its Hold rating but raised its price target to $300.
Citi reiterated its Buy rating and raised its price target to $300.
Piper Jaffray reiterated its Overweight rating and raised its price target to $329.
Oppenheimer reiterated its Outperform rating and raised its price target to $325.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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