Oppenheimer analyst Jason Helfstein lowered the firm’s price target on Amazon.com (AMZN) to $125 from $135 and keeps an Outperform rating on the shares. The firm believes Amazon’s 25% underperformance versus Nasdaq LTM is being driven by share loss to Microsoft (MSFT) and lack of e-commerce profitability. Following Oppenheimer’s deep dive into Amazon expenses, the firm believes more layoffs are necessary for e-commerce to become meaningfully profitable.
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Published first on TheFly
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