RBC Capital Sticks to Its Buy Rating for Amazon

By Jason Carr

RBC Capital analyst William Kirk reiterated a Buy rating on Amazon (NASDAQ: AMZN) today and set a price target of $1100. The company’s shares opened today at $1007.

According to TipRanks.com, Kirk is ranked 0 out of 5 stars with an average return of -6.8% and a 33.0% success rate. Kirk covers the Services sector, focusing on stocks such as Performance Food Group, US Food Holdings Corp, and United Natural Foods.

Currently, the analyst consensus on Amazon is Strong Buy and the average price target is $1196.64, representing a 18.8% upside.

In a report issued on September 28, Cantor Fitzgerald also maintained a Buy rating on the stock with a $1150 price target.

Based on Amazon’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $37.96 billion and quarterly net profit of $197 million. In comparison, last year the company earned revenue of $32.71 billion and had a net profit of $252 million.

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