Amazon.com, Inc. (NASDAQ:AMZN) may be a top pick for many analyst firms but Telsey Advisory Group CEO Dana Telsey told CNBC that she won’t be touching the company’s stock from now.
Telsey was told by the CNBC team that some analysts have come on the channel to say that Amazon.com, Inc. (NASDAQ:AMZN) is one of their top choices for next year. Telsey said that she begs to disagree.
“I don’t feel that way about Amazon going into 2015. I think, basically, there’s more competition there. I think at some point you have to make money. Who knows when that time is?” she said.
For example, Robert W. Baird issued a note to clients on Friday setting a $340 price target on the stock. Amazon.com, Inc. (NASDAQ:AMZN) closed on Friday at $309.09. Piper Jaffray, Nomura and Morgan Stanley have “Overweight,” “Buy” and “Overweight” ratings on the stock with price targets at $350, $410 and $420 respectively.
However, Telsey said that indicators she sees push her to not have confidence in the internet commerce behemoth.
“One of the newest things that’s happening with Amazon brick-and-mortar [stores] integrating with online. All of a sudden we’re hearing Amazon is going to open stores. We’ve heard from our checks [that] there are leases that are being signed. There are buildings that are being bought. We’re seeing more and more online-only e-retailers come to brick-and-mortar [stores],” she said.
Saying that she would not own Amazon.com, Inc. (NASDAQ:AMZN) right now, Telsey said that she would rather own stocks of retailers and brands like Macy’s, Inc. (NYSE:M) and Nike Inc (NYSE:NKE). She said that she believes she will have more longevity and sales growth in brands.
Brett Barakett’s Tremblant Capital owned 341,062 Amazon.com, Inc. (NASDAQ:AMZN) shares by the end of September.