UPDATE: Citigroup Downgrades Amazon
In a report released Tuesday, Citigroup analyst Mark May downgraded Amazon (NASDAQ: AMZN) from Buy to Neutral and decreased the price target from $414 to $395.
The Citigroup analyst stated Amazon's AWS price cut on April 1, 2014 led to 2Q14 margin decline. Amazon's CSOI margins are close to six percent, but most recently dropped in the 2.5 to three percent range due to the company's China operations.
Citigroup analysts believe the company's next two quarters will be impacted by its projected decrease in revenue, which influenced the price cut.
Latest Ratings for AMZN
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Mar 2022 | Deutsche Bank | Initiates Coverage On | Buy | |
| Feb 2022 | Tigress Financial | Maintains | Buy | |
| Feb 2022 | Credit Suisse | Maintains | Outperform |
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Posted-In: Citigroup Mark MayDowngrades Price Target Analyst Ratings
