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In a pair of new reports, Wall Street analysts weigh in on two important recent developments for Amazon.com, Inc. (NASDAQ: AMZN).
First, Pacific Crest analyst Edward Yruma discussed Amazon’s new fashion show
Style Code Live.” According to Yruma, the new show is an innovative approach to apparel marketing.
“We believe this move, coupled with a move into private label, highlights Amazon’s willingness to be innovative and to approach the category differently than with its traditional values of low cost and fast shipping,” he explained.
Pacific Crest has an Overweight rating on Amazon and an $800 price target for the stock.
Related Link: Rolfe: Berkshire Still Better Bet Than Small Caps
Bank of America analyst Justin Post instead chose to focus on Amazon’s air cargo news. This week, Air Transport Services Group Inc. (NASDAQ: ATSG) announced a deal with Amazon to operate an air cargo network for U.S. Amazon customers. Air Transport will be operating at least 20 planes on behalf of Amazon.
While bears could see the cargo operation as yet another massive expense for Amazon, Post believes investors should look past the initial costs.
“We are optimistic that the Street will see investments in fulfillment/logistics as positive steps toward building an even bigger competitive moat, with opportunity for incremental 3P shipping revs. in the future,” Post noted.
Bank of America has a Buy rating and $750 price target for Amazon.
Disclosure: The author holds no position in the stocks mentioned.
Image Credit: Public Domain
Latest Ratings for AMZN
| Mar 2016 | BMO Capital | Initiates Coverage on | Outperform | |
| Feb 2016 | Bernstein | Maintains | Outperform | |
| Feb 2016 | Canaccord Genuity | Upgrades | Hold | Buy |
View More Analyst Ratings for AMZN
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