Loop Capital Reiterates Buy on Amazon (AMZN) Ahead of Prime Day Sale
Loop Capital reiterated a Buy rating and $1,900.00 price target on Amazon.com (NASDAQ: AMZN) ahead of the company's annual Prime Day sale. Amazon's annual Prime Day sale begins today at 3:00 PM ET and will run for 36 hours, six more than last year. Prime members around the world will be able to choose from over 1M online deals, as well as selected promotions at all US Whole Foods Market stores.
Anthony Chukumba believes Prime Day 2018 will be highly successful for Amazon, particularly given the six additional hours of the event; integration with Whole Foods Market; and giant Smile box events. Chukumba also thinks Prime Day is yet another example of Amazon's culture of continuous experiment and innovation.
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Shares of Amazon.com closed at $1813.03 yesterday.