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Dain Rauscher Upgrades Amazon to 'Buy'

Dain Rauscher upgraded (AMZN) to buy from neutral.

Analyst George Sutton says the market has largely ignored some recent service wins and continued improvements to the company's business model. He notes on September 11 the company announced it would manage various online brands for Target Corp., among the best endorsements of its online model possible. Also released was the creation of a travel store. Sutton thinks of Amazon as a good mall, which is becoming a great mall. He says margin expansion will likely continue unabated as a business model and merchandise shift occurs. Sutton notes his move is not a bet on Q3 or Q4. He has a $14 target.

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