A Morgan Stanley analyst has cut his rating on Amazon to equal weight from overweight. The reason? Mounting near-term challenges that mean 2012 will be a year of transition for the stock. Generally, the company is a long-term supporter of Amazon, Scott Devitt wrote, and it remains a long-term supporter. However, there are near-term trends the company must address, and soon, he said. Chief among them is Apple’s wild success in changing the digital distribution of music, books and other content.
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Turbulent Waters Ahead for Amazon?
Posted by: Erika Morphy February 17, 2012 05:00 AMA Morgan Stanley analyst has cut his rating on Amazon to equal weight from overweight. The reason? Mounting near-term challenges that mean 2012 will be a year of transition for the stock. Generally, the company is a long-term supporter of Amazon, Scott Devitt wrote, and it remains a long-term supporter. However, there are near-term trends the company must address, and soon, he said. Chief among them is Apple’s wild success in changing the digital distribution of music, books and other content.