Amazon (AMZN) Latest News Should Boost Online Grocery Ordering Adoption - Cowen
- Wall Street falls as investors ready for Trump's inauguration
- IBM (IBM) Tops Q4 EPS by 13c, FY17 EPS Guidance Beats Consensus
- American Express (AXP) Misses Q4 EPS by 7c, FY17 EPS Guidance Tops Views at Mid-Poinit
- Skyworks Solutions (SWKS) Tops Q1 EPS by 3c, Offers Q2 Guidance, Announces Buyback
- After-Hours Stock Movers 01/19: (SWKS) (QRVO) (NVAX) Higher; (AFMD) (SGYP) (IBM) Lower (more...)
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Cowen analyst John Blackledge weighed in on Amazon (NASDAQ: AMZN) on reports from the WSJ earlier that the company is pursuing various smaller format brick and mortar stores, including i) Convenience stores selling perishable items, while also allowing customers to order non-perishables for same-day delivery, and ii) Online grocery pick-up locations.
Blackledge said both offerings should help increase the adoption of ordering groceries online, as the company offers its customers various ways to purchase, especially for those consumers who are not yet comfortable ordering online.
He also notes these reports follows the decision last week to lower the price of Amazon Fresh, its online grocery offering, to $14.99/month compared to $299/year prior, which makes the additional cost for the service more digestible and should lead to increased adoption.
The firm maintained an Outperform rating and price target of $960 on AMZN.
Shares of Amazon.com closed at $841.71 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Morgan Stanley Cuts Amazon's (AMZN) Consolidated Segment Operating Income By 16% For 2017, 13% For 2018
- Amazon Announces Ninth Fulfillment Center in Texas; New Robotics Site Will Create 1,000-Plus Full-Time Jobs
- UPDATE: SunTrust Robinson Humphrey Starts Orbital-ATK (OA) at Buy
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesCowen & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!