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Guggenheim Securities sets Buy rating on Amazon, $950 target

Sep. 30, 2016 11:30 AM ETAmazon.com, Inc. (AMZN) StockAMZNBy: Eric McCaffrey, SA News Editor28 Comments
  • Sees AWS, cloud strength as key profitability drivers. Further confident in international Prime flywheel and Amazon's e-commerce prospects resulting from evolving consumer spending.
  • Note: "We believe the Amazon Web Services (AWS) segment remains a key driver for the share price. The segment is benefitting meaningfully from the increasing IT acceptance of public cloud infrastructure and reacceleration of data spending in 2016. Given AWS's rapid pace of innovation (>1,100 new services in 2015/1H16), strong customer base, and ongoing efficiency gains, we expect cloud computing dominance and increased profitability to continue."
  • Amazon (AMZN +1%) received a $1,000 target at J.P. Morgan earlier in the week.

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