Evercore ISI is removing Amazon from the firm “Tactical Underperform” list ahead of earnings as the firm says it sees “a Modest Beat & Bracket quarter as the most likely outcome” for the company’s Q2 report. The firm believes revenue and operating income upside is likely for Q2, but we also sees limited upside, but not downside risk, to Q3 revenue and operating income estimates, the analyst tells investors in a Q2 preview. Evercore has an Outperform rating and $225 price target on Amazon shares.
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