Amazon.com (AMZN: Nasdaq) By Cowen & Co. ($83.03, June 30, 2009) WE ARE UPGRADING Amazon.com (ticker: AMZN) from Neutral to Outperform because: (1) we expect its share of the consumer wallet to increase materially, driven by greater penetration of nonmedia categories, higher frequency of orders per customer due to growing adoption of Amazon Prime, and reinvestment of profits from high-margin revenue streams into lower prices; (2) Amazon's aggressive investment in search, site content, customer service, ...[Read more...]