'A One-in-a-Lifetime-Company': Evercore ISI Reiterates Outperform on Amazon (AMZN) Following Talks With Industry Experts and Former Employees

Evercore ISI analyst Mark Mahaney has reiterated an Outperform rating and a $4,700.00 per share price target on Amazon (NASDAQ: AMZN).

The firm held its first Amazon Day Symposium, which included talking with 15 industry experts and some former Amazon employees on five key topics — Regulation, Logistics, Retail, Digital Advertising, and Cloud.

Brad Stone (the author of “The Everything Store” and “Amazon Unbound” and Sr. Executive Editor for Global Technology at Bloomberg News), noted that Jeff Bezos hasn’t been leading Amazon “for some time” and he expects no major changes with Jassy as the new CEO.

“One key difference however, is that Amazon will likely be more empathetic with Jassy as the CEO, and Bezos laid the foundation when he stepped down while also adding two new leadership principles, both of which implied a shift towards being more empathetic than before,” Mahaney wrote on conversations with Stone.

For Stone, Amazon is a one-in-a-lifetime company.

“Stone believes that Amazon is unique. FB and GOOGL are also great, although the founders of both companies parlayed one idea and scaled to lead the category, successfully executing on one core strategy, per Stone. That was not the case with Amazon. Amazon has not been a variation of one theme. Rather, Amazon is a combination of very successful disparate businesses, tethered by its corporate culture of customer obsession, relentlessness, and innovation,” the analyst added.

Elsewhere, industry experts and panelists also discussed regulation, on which they believe the risk is “significant” but also manageable.

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