Stock Watch: Amazon Climbs on Goldman Recommendation

Amazon.com (Nasdaq: AMZN) rose 3 5/16 to 42 15/16 Wednesday after Goldman Sachs analyst Anthony Noto repeated a trading buy recommendation on the stock.

Amazon's launch of a French Web site, a customer service center in India and an e-book alliance with Microsoft Corp. (Nasdaq: MSFT) (Nasdaq: MSFT) are "all positive," Noto wrote in a research note. In addition, he said, "operating consistency and leverage improvements achieved in the first half of 2000" bode well for upside in the fourth quarter.

The French market represents "an attractive opportunity for Amazon," Noto wrote. While the impact on this year's results from the new venture will be only "marginal," he said, the outlook is bright as European e-commerce grows.