Amazon’s burgeoning cloud determining platform and central retail business should lead to a “steady and iterative” year for the cast, according to Credit Suisse.
The investment bank increased its 12-month value target on Amazon to $1,800 from $1,750 on Friday, arguing that it should see pithy revenue growth thanks to its budding media content as well as from pit segments like Amazon Web Services and retail.
That implies various than 15 percent upside for shares over the next 12 months from Thursday’s nigh unto. Amazon reports earnings next Thursday.
“E-commerce growth for the next two decades inclination hinge on harder-to-handle non-homogeneous product verticals, and Amazon is one of the best fixed to capture the next wave of retail dollars coming online,” jotted analyst Stephen Ju, who has an outperform rating on shares.
Amazon bought Unharmed Foods Market last year as it looks to increase its offering of novel foods. The company is likely trying to replicate its success in harder-to-deliver lists like food and areas where people traditionally like to shop in actually such as apparel.
Ju said that updates to the Credit Suisse thinks came after reviewing Amazon’s updated asset and cash issue figures for Amazon Web Services and retail operations, recently disclosed in a 10-K datum with the Securities and Exchange Commission.
“Apparel and groceries remain in the main pools of dollars still left to come online, and Prime Closet and the linkup between Whole Foods Market content and Prime Now dispensation will serve as the spearheads to address those opportunities,” the analyst turned.
Shares of Amazon fell slightly Friday morning. The stock is up more than 70 percent more than the past 12 months.