Amazon.com (AMZN) PT Raised to $2,700 at Cowen; Non-U.S. eCommerce Opportunity Bigger than Expected

Cowen analyst John Blackledge raised the price target on Amazon.com (NASDAQ: AMZN) to $2,700.00 (from $2,650.00) while maintaining a Outperform rating.

The analyst commented, "Our new non-US surveys suggest AMZN’s eCommerce opportunity outside the US is larger than the Street appreciates. While non-US Prime penetration lags the US, our data gives us reasons to be optimistic about rising non-US subs, given outsized adoption by younger cohorts in UK, Germany & Japan. While AMZN’s non-US business accounts for 35% of WW GMV, those markets are 50% of its WW eCommerce TAM."

You May Also Be Interested In

• Maxim Group Starts Amazon.com (AMZN) at Buy
• Morgan Stanley Out Positive on Top Pick TSM (2330:TT) (TSM): 'We believe TSMC will pass through additional costs to customers'
• Cleveland Research Upgrades Dynatrace Inc. (DT) to Buy, 'optimism underlying fundamentals are likely to support upside'