Revenue from Amazon Web Services could rise by 29% to $9.62 billion and the company’s one-day shipping program might send positive signals as well. Additionally, the ad business could be an important profitability swing factor for Amazon, having shown strong growth lately.
Amongst Amazon’s (AMZN) main competitors are: Wal-Mart, Target, eBay, Overstock.com, Best Buy, and China’s Alibaba.
RBC Capital Markets analyst Mark Mahaney expects Amazon stock to Outperform the market and has set a price target of $2,500, citing high growth potential in many different sectors. The Benchmark Company reiterated the Buy rating on Amazon, with a price target of $2100 - $2300 and Morgan Stanley reiterated the overweight rating, with a price target of $2100 - $2200.
Average analyst target price on TipRanks.com sees Amazon stock at $2,207.40 +19.11% increase from the yesterday’s closing price of $1,853.25. The high forecast is $2500 representing a 36,67% increase.
Sources: forbes.com, investors.com, finviz.com, tipranks.com
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