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Benzinga
Benzinga
Business
Anusuya Lahiri

Read Rosenblatt's Take On Amazon

Amazon Rosenblatt Barton Crockett Amazon.com Inc. Christian Wiediger
  • Rosenblatt analyst Barton Crockett updated Amazon.com Inc (NASDAQ:AMZN) for the 20-1 share split completed on June 6.
  • Crockett also reduced its split-adjusted PT by 26% to $107, near current trading levels. He reiterated a Neutral rating.
  • Crockett continued to see consensus long-term sales estimates as too high, mainly from what he saw as excessive long-term optimism for online retail. 
  • Amazon's multi-year extraordinary out-performance in retail has substantially diminished. He expected that to persist. 
  • Other elements of Amazon remain secularly hearty, including AWS. 
  • Progression towards retail maturity and heightened macro risks moved him to lower long-term multiple assumptions, reducing the price target.
  • Price Action: AMZN shares traded lower by 0.26% at $103.40 on the last check Tuesday.
  • Photo by Christian Wiediger via Unsplash
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