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Prudential Says Still 'Sell' Amazon

Prudential maintains its sell rating on (AMZN).

Analyst Mark J. Rowan says Amazon continues to face mounting strategic problems. He says the company described growth in its U.S. books/music/video (B/M/V) category as "slight," which appears to confirm his concern that the company has saturated the online B/M/V market. He questions the high market value placed on a segment that has little, if any, growth.

Rowan says consumer electronics (C/E) appears to have picked up slack from slow B/M/V growth, but he is concerned that this contributes negatively to margins, and Amazon could lose more money as it grows. He maintains his sell rating and has a $9 target.

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