Oppenheimer raised the firm’s price target on Amazon.com (AMZN) to $250 from $215 and keeps an Outperform rating on the shares. The firm cites higher margins, now more in line with the Street, on better trade outlook vs. early May. Additionally, e-commerce continues to outperform vs. overall retail, with quarter-to-date non-store retailers +3.7% year-over-year vs. retail ex. Motor, Parts & Gas +2.7%. While Oppenheimer is conservatively leaving revenue largely unchanged, the firm is increasing margins on lower trade costs.
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