Amazon: stock up after broker's comments
(CercleFinance.com) - The Amazon share is up almost 5% today, following positive comments made by Wedbush, which confirms its "outperform" rating and target price of 2325 dollars for the share of the online distribution giant, which it has added to its "Best Ideas List".
"We view Amazon as uniquely-positioned to gain meaningful market share across a number of verticals in a multitude of countries driven by coronavirus-related changes in consumer behavior," the broker says.
Wedbush points out that in the near term, consumers seem to be turning to online distribution to avoid crowds, and that, in the long term, it expects Amazon to "absorb the learnings from this difficult period" and adapt its supply chain and delivery network best practices accordingly.
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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.
"We view Amazon as uniquely-positioned to gain meaningful market share across a number of verticals in a multitude of countries driven by coronavirus-related changes in consumer behavior," the broker says.
Wedbush points out that in the near term, consumers seem to be turning to online distribution to avoid crowds, and that, in the long term, it expects Amazon to "absorb the learnings from this difficult period" and adapt its supply chain and delivery network best practices accordingly.
Copyright (c) 2020 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.