Amazon opens 9 percent higher, analysts raise price targets

File of a box from is pictured on the porch of a house in Golden(Reuters) – Inc's shares opened 9 percent higher, just shy of a record high, after strong profit margins at the world's largest internet retailer surprised Wall Street. At least 13 brokerages raised their price targets on Amazon's stock after the company reported fourth-quarter gross profit margins of 24 percent on Tuesday, higher than Wall Street expectations of about 22 percent. Shares of the Kindle maker were trading at $ 275.66 in early trade on the Nasdaq after touching a high of $ 284.20. The stock hit a record high of $ 284.72 on January 25. …

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