December 29, 2009 / 1:23 PM / 10 years ago

Amazon shares up as brokers raise price target

Employees at Amazon get merchandise ready to ship at the Phoenix Fulfillment Center in Goodyear, Arizona, November 16, 2009. REUTERS/Rick Scuteri

NEW YORK (Reuters) - Shares in Amazon.com rose 1 percent to $140.74 in premarket trade on Tuesday after two brokerages raised their price targets on the stock.

Piper Jaffray raised its target to $172 from $163 and gave the stock an “overweight” rating, and Kaufman Bros raised its target to $155 from $120. Kaufman rates the stock at “hold.”

Reporting by Edward Krudy; Editing by Padraic Cassidy

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