AMZN熊四：Colin Gillis# Stock
H*i
1 楼
Colin Gillis, BGC Partners:
Reiterates a Hold rating, and a $245 pric3e target. “Haiku: This is not
leverage; this is slowing revenue growth, and dreams of profit [...] While
21.9% top line growth is respectable, it is no longer among the elite
revenue growers in the S&P500. To place the slowdown in perspective, Amazon
’s March quarter revenue growth YoY in 2011 was the 14th best among S&P500
companies. In March 2012 quarter the company produced the 19th best revenue
growth among the S&P500. This quarter revenue growth slipped to the 42nd
best among the S&P500 according to data from Bloomberg [...] Shares of
Amazon are underperforming the broader market with a total return of 1.9%
year-to-date versus 11.5% for the S&P500 index (assumes dividends reinvested
). We maintain that forward consensus estimates, including $10 of earnings
per share in 2015, may prove elusive as the company continues to find new
areas of investment.
Reiterates a Hold rating, and a $245 pric3e target. “Haiku: This is not
leverage; this is slowing revenue growth, and dreams of profit [...] While
21.9% top line growth is respectable, it is no longer among the elite
revenue growers in the S&P500. To place the slowdown in perspective, Amazon
’s March quarter revenue growth YoY in 2011 was the 14th best among S&P500
companies. In March 2012 quarter the company produced the 19th best revenue
growth among the S&P500. This quarter revenue growth slipped to the 42nd
best among the S&P500 according to data from Bloomberg [...] Shares of
Amazon are underperforming the broader market with a total return of 1.9%
year-to-date versus 11.5% for the S&P500 index (assumes dividends reinvested
). We maintain that forward consensus estimates, including $10 of earnings
per share in 2015, may prove elusive as the company continues to find new
areas of investment.