Guggenheim Keeps Their Buy Rating on Amazon (AMZN)

By Ryan Adsit

Guggenheim analyst Robert Drbul maintained a Buy rating on Amazon (AMZNResearch Report) yesterday and set a price target of $2000. The company’s shares closed yesterday at $1718.73.

Drbul commented:

“We remain PT, which remains based on a SOTP valuation, now on our newly introduced FY20 estimates that call for +20% top-line growth and >40% adj. CSOI growth through FY20.”

According to TipRanks.com, Drbul is a 5-star analyst with an average return of 10.3% and a 63.6% success rate. Drbul covers the Services sector, focusing on stocks such as National Vision Holdings Inc, Capri Holdings Limited, and Ascena Retail Group.

Currently, the analyst consensus on Amazon is a Strong Buy with an average price target of $2137.20, implying a 24.3% upside from current levels. In a report issued on January 17, Loop Capital Markets also maintained a Buy rating on the stock with a $2200 price target.

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Amazon’s market cap is currently $840.5B and has a P/E ratio of 96.39. The company has a Price to Book ratio of 21.48.

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