Amazon.com Inc AMZN has been on quite a run in recent years, but JPMorgan analyst Doug Anmuth believes the Amazon train won’t stop until it hits $800/share. Anmuth is expecting a strong quarter from Amazon when the company reports earnings after the closing bell.
“We remain positive on AMZN & expect strong 4Q results driven by continued retail & eComm share gain, benefits of the Prime ecosystem, & AWS,” Anmuth explains in a report out this week
For years, Amazon took heat for aggressively spending on expansion and leaving shareholders with negative earnings. However, Anmuth now believes that Amazon is positioned to have its cake and eat it too.
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“We believe AMZN has now reached a level of scale & efficiency where it can continue to invest aggressively in the business while also still delivering material profits,” he notes.
JPMorgan has an Overweight rating on Amazon and a $800 target on the stock.
Disclosure: the author holds no position in the stocks mentioned.
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