Amazon Downgraded With Street-Low Target at Raymond James (1)

Amazon.com Inc. was downgraded by Raymond James on anticipation that earnings will come under pressure from its increasing investments and the steep US tariff increases on imports from China.

Josh Beck lowered his rating to outperform from strong buy, saying it’s likely that Wall Street analysts are underestimating the impact of the US trade war and the company’s continued investments.

Beck also cut his price target to a Street-low view of $195, from $275. The average price target is about $253, implying a return potential of almost 50% from Amazon’s last close of $172.61.

Amazon shares are down more than ...