From Standard & Poor’s Equity Research

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STIFEL RAISES TARGET FOR AMAZON.COM

Stifel algebraist Scott Devitt says Amazon.com’s (AMZN) fourth quarter was impressive and it gave strong guidance, particularly given the environment.

Devitt notes $6.7 billion revenue was up 24% on organic basis; operating margin was 5.4%, well ahead of expectations; the collection ended the fourth quarter with $3.3 billion in net pay in money. He says AMZN’s household reward growth of 18% compares to domestic eCommerce of -3%. He notes, importantly, while many retailers are experiencing tighter remuneration provisions, AMZN terms are improving.

He raises $1.36 2009 EPS estimate to $1.37. He also lifts $61 excellence target to $65, 19 times his $1.3 billion estimate of 2009 unlevered artless cash flow. He reiterates a bribe opinion on the stock.

ROTH CAPITAL CUTS INFORMATICA TO HOLD FROM BUY

Roth Capital analyst Nathan Schneiderman says Informatica (INFA) fourth quarter was mixed: $124 million revenue missed consensus by $3 million, but $0.24 pro forma EPS thrash by $0.01. He notes operational metrics deteriorated sharply; big deals were disappointing, DSOs spiked, anarchy backlog fell; medium-sized deals down sharply.

Schneiderman says metrics propose INFA is hostile more exposed for the first quarter than last year, so not surprisingly, the company cut guidance sharply.

He cuts $0.85 2009 EPS esteem to $0.82 and $0.97 for 2010 to $0.90, reflecting lower estimates for income offset somewhat by the agency of higher operating margin. He lowers $16 target to $14.

Original text: http://www.businessweek.com/investor/content/jan2009/pi20090130_984327.htm?campaign_id=rss_null