A M Z N -- DOWNGRADED
RESEARCH ALERT- Amazon.com
<AMZN.N> cut to neutral
MINNEAPOLIS, June 26 (Reuters) - Dain Rauscher
Wessels said Friday it lowered its rating on Amazon.com
Inc. to neutral from buy, citing valuation.
"Amazon is perhaps the most powerful growth story in
retailing today," Dain Rauscher Wessels analyst Mitch
Bartlett said in a research note.
"However, at today's share price, even after factoring in
the powerful attributes of the business model, the yearly
sales growth necessary to achieve an investment return
over a three- to five-year period would be, we believe,
unachievable.
"We are also a big proponent of the future growth of
e-commerce," he added. "However, given the run up in
the share price, we are lowering our rating to
neutral-aggressive from buy-aggressive." The stock was
off 1-15/16 at 97-1/8.
------------
You longs better sell now ... there will be a stampede out before the end of the day, and more tankage on Monday. As we all know, a "neutral" means "sell" on Wall ST. Other brokerages should downgrade as well ... they all do together usually.
Shortie |
