Goldman Sachs Reports New AMZN Centers In Germany

Goldman Sachs has issued a report on Amazon's AMZN announcement of 8 new fulfillment centers in Germany. According to the report, "So far in 2011, Amazon has announced eight new fulfillment centers, for 15% implied growth-to-date on a base of 52. In 2010, it announced 13 new centers, for 33% growth on a base of 39. We estimate Amazon may ultimately add 15-20 centers in 2011, for 30%-40% growth. We view 30%-40% growth as optimal from an investor perspective, since 50% or greater growth could signal margin compression, while 20% or slower growth could signal revenue deceleration." AMZN is rated Buy and has a $200 PT. AMZN closed yesterday at $174.62.