BMO Capital Cuts Amazon Price Target by 12 Percent

The Amazon logo on the frontage of an Amazon's centre in Bretigny-sur-Orge, France, on Dec. 14, 2021. Thomas Samson/AFP via Getty Images

BMO Capital analyst Daniel Salmon lowered the price target on Amazon.com Inc. to $3,600 from $4,100 but reiterated an Outperform rating on the shares. The price target implies an upside of 29 percent.

The analyst is also reducing his FY22 EPS view to $42.99 from $65.04.