Amazon.com "outperform," target price raised

25.10.07 - Credit Suisse

NEW YORK, October 25 (newratings.com) - Analyst H Terry of Credit Suisse maintains his "outperform" rating on Amazon.com Inc (AMZN), while raising his estimates for the company. The target price has been raised from $100 to $120.

In a research note published yesterday, the analyst mentions that the company has reported its 3Q revenues and GAAP EPS ahead of the estimates and the consensus. Amazon.com?s North America and International sales growth improved sequentially from 38% y/y to 42% y/y and from 31% to 40%, respectively, the analyst says. The company?s international third party sales also accelerated in the quarter, Credit Suisse adds. The EPS estimates for 2007 and 2008 have been raised from $1.09 to $1.11 and from $1.54 to $1.59, respectively.