Cowen Calls Amazon As Best Idea For 2022, Top Mega-Cap Pick

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.