- Guggenheim analyst Seth Sigman assumed coverage of Amazon.com Inc AMZN with a Buy rating and $4,300 price target, implying a 20.4% upside.
- The analyst launched coverage on direct-to-consumer e-commerce stocks and is positive on the group entering fiscal 2022.
- Online channel share gains should reaccelerate early next year after months of declines, and normalizing consumer spending growth may be good for the stock, Sigman tells investors in a research note.
- For Amazon, the analyst sees potential for a "significant positive inflection" in early/mid-2022 versus its moderating sales and margin trends more recently.
- Related Content: Amazon Analysts Break Down Q3 Earnings: 'Would Be Buyers On Weakness'
- Price Action: AMZN shares traded higher by 0.15% at $3,577.94 in the premarket session on the last check Tuesday.
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