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Piper: Amazon Shares May Be Worth $3,000 in 2 Years

Piper: Amazon Shares May Be Worth $3,000 in 2 Years
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Friday, 24 May 2019 09:01 AM

Amazon.com Inc. shares can hit the $3,000-mark within the next two to three years, about 65% above where the stock is trading now, according to analysts at Piper Jaffray.

“We have a high degree of confidence that Amazon shares can reach this level with no major acquisitions or other significant changes to the business,” analysts Michael J Olson and Yung Kim wrote in a note. Spinning off the rapidly growing Amazon Web Services (AWS) cloud business would help to highlight the relatively low valuation placed on Amazon’s other businesses, they said.

If Amazon (AMZN) hit that $3,000 mark, its market capitalization would be around $1.47 trillion. Amazon shares currently trade at about $1815.48.

If you strip out AWS, Amazon’s core retail business trades at a valuation below that of traditional bricks-and-mortar retailers. When valued like other e-commerce rivals, the company’s retail operations imply a potential upside of $500 billion, the analysts said.

Bullishness is a common trait among Amazon analysts. The company has 49 buy ratings, according to data compiled by Bloomberg, with only one hold and one sell. The average 12-month price target is $2,231, which is a touch higher than Piper Jaffray’s $2,225 price target.

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Amazon.com Inc. shares can hit the $3,000-mark within the next two to three years, about 65% above where the stock is trading now, according to analysts at Piper Jaffray.
amazon, shares, stock, price, piper
197
2019-01-24
Friday, 24 May 2019 09:01 AM
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