- RBC Capital analyst Brad Erickson initiated coverage of Amazon.com Inc AMZN with an Outperform rating and $4,150 price target, implying a 25.7% upside.
- Erickson said Amazon is his favorite name in the group of internet stocks focused on e-commerce, advertising, and cloud as the company has a proprietary channel work on the advertising industry.
- Erickson added that TAM is practically GDP and that checks indicate Amazon advertising is "just getting started."
- Price Action: AMZN shares traded higher by 0.19% at $3,285.04 in the premarket session on the last check Friday.
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