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Piper Jaffray raises Amazon price target; shares down 2.4%

Published 06/12/2017, 10:19 AM
© Reuters.  Piper Jaffray raises Amazon price target; shares down 2.4%
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  • Piper Jaffray reiterates the Overweight rating on Amazon (NASDAQ:AMZN) but pushes price target up $150 to $1,200.
  • Analyst Michael Olson writes that the firm’s proprietary Google (NASDAQ:GOOGL) search trend analysis indicates Amazon’s retail growth is unlikely to decelerate in Q2.
  • Olson noted that the search analysis showed that Amazon-related words had a 23% year-over-year growth in June, which matched the growth amount in March.
  • Amazon shares are down 2.38%.
  • Now read: Amazon: Threatened By Kroger?


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