Amazon.com Inc. (NASDAQ:AMZN) has been perhaps the most successful online retail store around, and has seen impressive success with many of its services and products, not the least of which has been its line of Kindle e-readers and tablet computers. While it has been relatively under the radar in terms of discussion among many online and tech companies, its success and expected future growth has led to some positive attention from several analysis companies, which are posting some very bullish price targets going forward.
The latest report in this realm comes from Credit Suisse, which announced that it is initiating coverage of Amazon.com Inc. (NASDAQ:AMZN), its stock, its business model and infrastructure, joining the likes of other companies who have already given their input on the future of the stock. In a research note sent out this week, Credit Suisse said it was assuming coverage of the stock and placed an “outperform” rating on the security.
This follows in line with several other reports which have recently started following Amazon.com Inc. (NASDAQ:AMZN). Atlantic Securities recently affirmed an overweight rating on the stock and placed a $280 price target on the stock in a note to investors released Wednesday. Janney Montgomery Scott also weighed in, giving a buy rating to Amazon.com Inc. (AMZN) and placing a $300 target in its research note to investors Monday. Also, analysts at William Blair posted an outperform analysis on the stock in its research note last week.
Amazon.com Inc. (NASDAQ:AMZN) stock closed Wednesday at $244.99 a share, down 2.4 percent on the day, but these recent ratings may be good long-term news for investors in amazon.com Inc. (NASDAQ:AMZN) stock, like billionaire fund manager Jim Chanos of Kynikos.