Analysts Grow Bullish On Amazon's Stock Price

Shares of Amazon.com Inc. were up 12% in premarket trade Friday after the company reported a huge fourth-quarter beat late Thursday. A number of brokerages raised their price targets on the e-commerce giant on Friday, including Benchmark, to $425 from $350 on a buy rating; Baird to $380 from $340 on an outperform rating; Citigroup, to $405 from $354 on a buy rating; Bank of America, to $400 from $350 on a buy rating; and Credit Suisse to $410 from $389 on an outperform rating. B. Riley was the most bearish of the group, raising its target to just $312 from $296 and maintaining a neutral rating, citing a first-quarter guidance that fell short of consensus. "The solid topline results, better than expected bottom-line results, better than feared Q1 guidance, plans to expand segment disclosures starting in Q1, and management commentary about prioritizing expense efficiency in 2015 are likely all contributing to the positive after-market stock performance," said Citi analyst Mark May. Shares of Amazon were on track to open at a 6 month high.