Amazon: Credit Suisse raises target price

(CercleFinance.com) - Credit Suisse said on Friday that it has raised its target price for Amazon from 1,410 dollars to 1,750 dollars, with the e-commerce giant posting better-than-expected quarterly results.
The broker maintains its "outperform" rating on the share.

It highlights a "clean beat across all segments," with outperformance coming "across all reporting lines."

Credit Suisse said it now assumes "a lower tax rate as well as model a higher growth trajectory for advertising."

On Friday, after about an hour of trading on Wall Street, Amazon shares were jumping over 5% to about 1,470 dollars, while the main Nasdaq index was down 1.1%.


Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.