Amazon shares to rally another 15% as it captures the 'next wave' of online retail: Credit Suisse

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Jul 1, 2018, 4:19 AMJul 4, 2018, 4:19 AM (US/Pacific)
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    John Paulson

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  • KS, USA
  • Jul 1, 2018, 4:19 AMJul 4, 2018, 4:19 AM (US/Pacific)

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  • Created by John Paulson
  • Hosted by zora hasint
  • Created on June 30, 2018
  • Stats 1 Like, 0 Comments, 121 Views, 1 Favourite
When & Where
  • When Jul 1, 2018, 4:19 AMJul 4, 2018, 4:19 AM (US/Pacific)
  • Where KS, USA
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  • Amazon's burgeoning cloud computing platform and central retail business should lead to a "steady and iterative" year for the company, according to Credit Suisse.

    The investment bank increased its 12-month price target on Amazon to $1,800 from $1,750 on Friday, arguing that it should see meaningful revenue growth thanks to its budding media content as well as from core segments like Amazon Web Services and retail.

    That implies more than 15 percent upside for shares over the next 12 months from Thursday's close. Amazon reports earnings next Thursday.

    "E-commerce growth for the next two decades will hinge on harder-to-handle non-homogeneous product verticals, and Amazon is one of the best positioned to capture the next wave of retail dollars coming online," wrote analyst Stephen Ju, who has an outperform rating on shares.

    Amazon bought Whole Foods Market last year as it looks to increase its offering of fresher foods. The company is likely trying to replicate its success in harder-to-deliver categories like food and areas where people traditionally like to shop in person such as apparel.
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