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Amazon price target lifted to $2,100 as e-commerce moves beyond 'core' retail

Amazon.com Inc.'s AMZN, +0.91% value target used to be raised to $2,100 from $2,000 at Cowen as the e-commerce massive strikes more deeply into what analysts call "non-core" retail markets like apparel and food. These merchandise categories are key earnings drivers within the intermediate term. Cowen rates Amazon stocks outperform. "Prime which averaged ~60 million U.S. households in 2Q18 per our proprietary data will continue to be the core driver of US and international e-commerce growth over time, in our view," analysts led by way of John Blackledge wrote. "Additionally, we anticipate sustained performance from AWS and meaningful growth in emerging segments, like Amazon's advertising business." Analysts suppose Amazon's advert trade will building up to $36 billion in 2023 from $8.five billion in 2018. Amazon stocks have won 54.five% for the 12 months so far, outpacing the S&P 500 index SPX, +0.11% which is up 4.8% for the duration.