Amazon.com Shares Slip 2.3% After Analyst Downgrade

Amazon.com Inc. (NASDAQ:AMZN) fell 2.3% in Tuesday trading after Phillip Securities lowered its rating from a strong‑buy to a moderate‑buy. The stock touched a low of $275.82 and closed at $277.42, with trading volume rising 34% to about 67.7 million shares.

Other analysts have issued mixed outlooks: Rosenblatt raised its price target to $345, Benchmark to $400, while Citigroup and Needham maintained buy ratings with targets of $350 and $300 respectively. Overall, the stock holds an average rating of “Moderate Buy” and an average price target of $322.56.