Amazon.com (AMZN) PT Raised to 'Street High' $2,800 at Jefferies

Jefferies analyst Brent Thill raised the price target on Amazon.com (NASDAQ: AMZN) to a 'Street High' $2,800 (from $2,300) while maintaining a Buy rating and top large-cap pick rating.

Thill commented, "AMZN remains our top large-cap pick, with attractive growth-adjusted valuation and upside to forward profit estimates. In addition, channel checks and proprietary survey work suggest AMZN could benefit from COVID-19, positioning Q1 earnings as a potential positive catalyst. Our updated AMZN SOTP analysis supports ~70% upside over the next 3 yrs (~20% CAGR), driven by faster growth at higher-margin businesses."

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