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Analyst sees $1T market cap for Amazon, expects 60% ad rev. growth

Published 01/10/2018, 03:00 PM
Updated 01/10/2018, 03:00 PM
© Reuters.  Analyst sees $1T market cap for Amazon, expects 60% ad rev. growth
  • J.P. Morgan reiterates its Overweight rating for Amazon (NASDAQ:AMZN) and increases the price target by $10 to $1,385, an 11% upside on Tuesday’s closing price.
  • Analyst Doug Anmuth writes that Amazon has the potential for a $1T market cap since the company “remains early in the eCommerce & cloud secular shifts and in our view Amazon is investing in more major growth opportunities than any other company we cover.”
  • Anmuth says Amazon has a 10% share of the U.S. ad market compared to a 42% share of e-commerce sales. The analyst estimates Amazon’s ad business to generate an over 60% sales growth this year.
  • Amazon shares are down 0.3% to $1,249.54.
  • Previously: Piper Jaffray sees 12% upside for Amazon (Jan. 9)
  • Now read: Amazon's Stock Could Pull Back In 2018: A Good Buying Opportunity


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