The overall online retail sector exceeded expectations during Thanksgiving weekend and Amazon.com (NASDAQ:AMZN) had their price target increased by Susquehanna who re-evaluated after the strong performance.
Earnings estimates remain on hold because of a lack of information says the firm. There is also the free shipping and price competition which could lower margins and earnings for most retailers, making revenue numbers look good, but possibly little else once the data comes in after the Christmas holiday.
Online sales for Black Friday increased by 9 percent over last year, and by 28 percent on Thanksgiving day.
Amazon.com was trading at $179.82, gaining $2.62, or 1.48 percent at 2:38 PM EST. Susquehanna raised their price target on them from $150 to $170.
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