Amazon cost target raised to $2,100 as e-commerce moves beyond ‘core’ retail

Amazon Inc.’s < span data-channel=/ quotes/zigman/63011/ composite data-bgformat > AMZN, +0.81%rate target was raised to$2,100 from$2,000 at Cowen as the e-commerce huge moves more deeply into what analysts call “non-core” retail markets like apparel and food. These merchandise categories are key income motorists in the intermediate term. Cowen rates Amazon shares outperform. “Prime which balanced ~ 60 million U.S. homes in 2Q18 per our proprietary information will continue to be the core chauffeur of United States and global e-commerce development gradually, in our view,” analysts led by John Blackledge wrote. “In addition, we prepare for continual performance from AWS and meaningful growth in emerging sectors, like Amazon’s marketing business.” Analysts believe Amazon’s ad service will increase to $36 billion in 2023 from $8.5 billion in 2018. Amazon shares have actually acquired 54.5% for the year up until now, outpacing the S&P 500 index < period data-channel =/ quotes/zigman/3870025/ realtime data-bgformat > SPX, +0.09% which is up 4.8 % for the duration.

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