Amazon.com Inc. has been upgraded to strong buy from outperform at Raymond James based on a positive start to the third quarter and a recent pullback in shares that has given the stock “an attractive entry point.” The stock closed on Wednesday at $500.77. Raymond James cited ChannelAdvisor data in its note, which said same-store sales in July totaled 30.1%, driven by Amazon Prime Day on July 15. Second-quarter results indicate strong international growth prospects, and the firm believes Amazon Prime adoption will increase.
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