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GBH Insights raises Amazon price target ahead of "blowout" holiday quarter

Published 11/20/2017, 08:37 AM
© Reuters.  GBH Insights raises Amazon price target ahead of "blowout" holiday quarter
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  • GBH Insights analyst Daniel Ives says Amazon (NASDAQ:AMZN) will have a “blowout” holiday quarter with Prime members spending 20% to 25% more this season.
  • Ives cites the higher number of Prime members this year and the Whole Foods acquisition as driving Amazon to beat top-line revenue estimates by 3% to 5%. Consensus estimates have revenue at $59.7B for the quarter.
  • Ives raises Amazon’s price target from $1,185 to $1,270.
  • Amazon’s holiday quarter last year achieved high profits but missed revenue estimates.
  • Amazon shares are up 0.19% premarket.
  • Previously: Amazon is going after truck drivers (Nov. 17)
  • Now read: In India: Betting On An Amazon Victory


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