Amazon.com (Nasdaq: AMZN) fell 11/16 to 22 11/16 Thursday after Prudential Securities issued a research notesaying the e-tailer was running out of some items.
“Our return trip to four online toy stores in mid-December revealed slimpickings for shoppers,” Prudential said. “We found a greater out-of-stockposition at Toysrus.com/Amazon.com than at other online toy retailers.”
Prudential maintains a hold rating on Amazon.
Meanwhile, CE Unterberg Towbin said it lowered its 12-month price targetfor Amazon shares to 35 from 50, representing “present market realitiesregarding e-tailer valuations.” At the same time, the firm repeated a buy rating on Amazon.
“Though AMZN may have a significant move during 2001, we do not believe thiswill occur until the latter part of the year, if and when the companyfinally demonstrates an ability to operate profitably,” the firm said.
So far this year, Amazon appears to be holding on to its e-tail lead. Thesite
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