Amazon.com "buy," target price raised

17.12.07 - Stifel Nicolaus

NEW YORK, December 17 (newratings.com) - Analysts at Stifel Nicolaus & Company reiterate their "buy" rating on Amazon.com Inc (AMZN). The 12-month target price has been raised from $94 to $99.

In a research note published this morning, the analysts mention that the company has developed its business model as an open source technology, offering lucrative returns in the forthcoming three-to-five years. The upward revision in the target price reflects Amazon.com?s continued market share expansion and strategic initiatives, Stifel Nicolaus & Company adds. Despite a 200% appreciation in Amazon.com?s share price over the past fifteen months, there is substantial upside to the company?s share price going forward, the analysts say.