Jefferies has published a report on Amazon AMZN.
In the report, Jefferies wrote, "We're raising our PT to $250 and reit. our Buy rating to reflect 1) AMZN's
growth momentum, which seems sustainable in the near/medium term, 2) a very strong competitive position, strengthened by ongoing investments, and 3) further upside from the likely introduction of a Tablet before year-end. Revenue acceleration drove solid 2Q results. Revs of $9,913M (+51% Y/Y) comfortably exceeded consensus of $9,365M while EPS of $0.35 (ex. non-recurring items, tax) was inline. Organically, revs grew ~41% Y/Y vs. ~35% in 1Q11, driven by both Int'l and NA. Int'l sales grew at 46% Y/Y vs. 29% in 1Q while NA growth rate rose to ~50% Y/Y from 46%."
Jefferies rated Amazon a BUY with a price target of $250.00. Amazon closed Tuesday at $205.00.
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