BMO Capital Cuts Amazon Price Target By 12%

Comments
Loading...
  • BMO Capital analyst Daniel Salmon lowered the price target on Amazon.com Inc AMZN to $3,600 from $4,100 but reiterated an Outperform rating on the shares. The price target implies an upside of 29%.
  • The analyst is also reducing his FY22 EPS view to $42.99 from $65.04.
  • The revision reflects his expectations of lower online stores and third-party seller revenues in 2022 and 2023, due to the ongoing supply constraints both domestically and internationally, and to better reflect tough comps, along with lower margins in 2022 and 2023 to better reflect ongoing investments in the fulfillment network. 
  • Salmon maintains, however, that AWS should see strong demand post-COVID-19 while noting that Amazon continues to lead the rise of "Retail Media."
  • Price Action: AMZN shares traded higher by 0.49% at $2,806.40 in the premarket session on the last check Friday.
Overview Rating:
Good
62.5%
Technicals Analysis
100
0100
Financials Analysis
40
0100
Overview
Market News and Data brought to you by Benzinga APIs
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm

Posted In:
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!