Amazon.com reinitiated with "hold"

23.07.07 - Stifel Nicolaus

NEW YORK, July 23 (newratings.com) - Analyst Scott Devitt of Stifel Nicolaus & Company reinitiates coverage of Amazon.com Inc (AMZN) with a "hold" rating.

In a research note published this morning, the analyst mentions that the company is well positioned in the online general merchandise retail market going forward. Amazon.com is expected to witness competition in its retail business from traditional retail and the disciplined vertical online-retail businesses, the analyst says. The company is also likely to witness significant competition in the rental category from Microsoft, Google, Yahoo! and Apple in the future, Stifel Nicolaus & Company adds.