Amazon: Jefferies says 'buy' before festivities
(CercleFinance.com) - On Tuesday an analyst at Jefferies confirms his "buy" rating on the Amazon share, supported by the results of a survey about consumers buying intentions ahead of the festive season.
"Our inaugural holiday spending survey results suggest 88% of respondents plan to purchase from Amazon this holiday season, significantly more than WMT at 42% and TGT at 34%. E-comm holiday sales growth is expected to accelerate to 14% this year (...). We think AMZN will be best positioned..." Jefferies notes.
The broker therefore confirms its target price of 2,180 dollars for the share (23% upside potential).
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"Our inaugural holiday spending survey results suggest 88% of respondents plan to purchase from Amazon this holiday season, significantly more than WMT at 42% and TGT at 34%. E-comm holiday sales growth is expected to accelerate to 14% this year (...). We think AMZN will be best positioned..." Jefferies notes.
The broker therefore confirms its target price of 2,180 dollars for the share (23% upside potential).
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.