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Amazon.com
What happened? On Monday, Wells Fargo downgraded Amazon.com (NASDAQ:) to Equalweight with a $183 price target.
*TLDR: WFC sees NT pressures on AMZN from Project Kuiper and FBA fee issues. AMZN’s margin expansion faces competition from Walmart (NYSE:), reducing FBA fees by $2 billion.
What’s the full story? Wells Fargo analysts note that while Amazon has been a consistent positive revision story, several factors are likely to pressure revisions in the near term. These include investments in Project Kuiper, anticipated FBA fee pressures, and moderating advertising operating income contributions. The bank’s downgrade comes on the heels of potential caps on margin…
