We Have Added Amazon To Our Current Better Values List, Says William Blair
In a research report issued yesterday, William Blair analyst Mark Miller reiterated an Outperform rating on Amazon (NASDAQ:AMZN). No price target provided.
Miller noted, “The dream scenario for Amazon, in our view, is for the company to deploy its technology capabilities to the operating system of the e-commerce platform and in the fulfillment centers, while letting third-party sellers in the marketplace drive the merchandising and take the inventory risk.” The analyst concludes: “We reiterate our Outperform rating and have added Amazon to our Current Better Values List. Valuation is attractive, in our view, as recent news developments have adversely affected Amazon shares in the short run, including portfolio rebalancing ahead of the Alibaba IPO and new product launches from Apple (NASDAQ:AAPL). Shares trade at an enterprise value of 4.4 times our next-12-months’ gross profit projection, versus a five-year historical average of 6.4 times.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Mark Miller has a total average return of 4.1% and a 52.9% success rate. Miller has a -2.4% average return when recommending AMZN, and is ranked #1345 out of 3277 analysts.