DA Davidson initiated coverage on Amazon’s stock

Amazon.com (AMZN) stock coverage was started with a Buy rating and a 12–18-month $1,300 price target at DA Davidson.

DA Davidson coverage amazon.comEquities researchers at DA Davidson initiated coverage on shares of Amazon.com, Inc. (NASDAQ:AMZN) with a Buy rating and a 12–18-month $1,300 price target and a five-year out price target of $1,800. DA Davidson’s price objective would indicate a potential upside of 34.33% from the stock’s current price.

Now that Amazon officially operates a physical retail presence through the acquisition of grocery chain Whole Foods, it is well positioned to gain even more market share from the entire retail sector. The expansion into physical retail was necessary to continue disrupting the sector even more. Amazon’s new physical retail space when combined with its market-leading cloud unit called Amazon Web Services will help the company “sustain its profitable revenue growth” for the foreseeable future” analysts said.

Amazon’s M&A plans are expected to continue as the company is eyeing potential acquisitions of other grocery categories as well as apparel retailers and gas stations.

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