Piper Jaffray Maintains Overweight on Amazon

Piper Jaffray is out with its report today on Amazon AMZN, maintaining Overweight. In a note to clients, Piper Jaffray writes, "We remain Overweight on Amazon shares based on our confidence in the company's ability to not only remain the global leader in online retail, but expand into emerging markets over the next decade. Specifically, we see AMZN moving into both India and Brazil. We believe that Amazon will likely appear with a books-only offering in India in the next six months, while it will enter Brazil through a digital-only offering in about one year. " Piper Jaffray maintains a $215 PT on AMZN. Shares of AMZN closed Monday at $201.25, up 4.52% from Friday's close.