FBN Securities Lowers Amazon Price Target

On Monday, FBN Securities maintained the Outperform rating on shares of Amazon.com, Inc. (NASDAQ: AMZN) and lowered the price target from $400 to $350.

Shebly Seyrafi finds that Amazon’s media segment continues to exhibit slower growth and a large decline in international CSOI was a notable negative.

Shebly finds that decline was caused by,”less leverage as growth slowed and by some inventory re-evaluation and supplier commitment costs.”

Lastly, Shebley wrote, “We still think that the material EPS improvement will occur in F2016 as GM continues to grow steadily. However, risks to this forecast have also increased, particularly with the continued increase in technology and content expenses.”

Shares of Amazon recently traded at $285.70, down 0.47 percent.