- Cowen analyst John Blackledge raised the price target on Amazon.com Inc AMZN to $4,500 from $4,300, implying 30.7% upside, and keeps an Outperform.
- Blackledge called Amazon his Best Idea for 2022 and top mega-cap pick.
- The analyst expects accelerating sales growth in the second quarter of 2022 as e-commerce comps ease.
- Amazon's one-day and same-day offering bolstered by "historic fulfillment investments" since 2020 that can drive higher conversion and fuel potential upside to his forecast.
- He also believes robust growth at AWS and the advertising business will drive operating margin expansion.
- Price Action: AMZN shares traded lower by 1.18% at $3,404.34 on the last check Monday.
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