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Argus analyst upgrades Amazon to 'buy'

Argusanalyst Jim Kelleher upgraded Amazon.com Inc. to "buy" from"hold," TheFly.com reported Sept. 22.

Kellehernoted the company's present margin growth and expansion is faster than the risein the stock price.

ThoughAmazon stock is still trading at "rich multiples," it is "wellbelow" past inflated multiples, the analyst reportedly added. Kelleher seta 12-month target price of $935 on the company stock.