UPDATE: Deutsche Bank Reiterates Buy Rating, Raises PT for Amazon

In a report issued earlier today, Deutsche Bank AG reiterated its Buy rating for Amazon.com, Inc. (NASDAQ: AMZN) and raised its price target from $235.00 to $285.00.

Deutsche Bank said in its report “Amazon's 49% unit growth showed essentially no deceleration, gross margins beat, and operating profit dollar growth looks ready to resume growth in 2H 2012. With deep skepticism into the quarter, shares appear set to rebound following solid results and guidance, and we think investors will increasingly revisit the story as operating profits grow in 2H.”

Amazon.com, Inc. closed at $195.99 yesterday.