BofA Securities analyst Justin Post reiterated a Buy rating and $275.00 price target on Amazon.com (NASDAQ: AMZN).

The analyst comments "Amazon launched 1-hour and 3-hour delivery options for 90,000+ items ranging from everyday essentials, electronics, over-the-counter medications, and more. Per Amazon, the 1-hour delivery option is available in “hundreds” of US cities and towns, including “parts of major” metros like Los Angeles, Chicago, D.C., while 3-hour delivery is offered in 2,000+ cities. See Exhibit 1 for a breakdown of delivery fees for Prime & non-Prime members. Our take: Amazon continues to drive faster delivery speeds y/y by leveraging its existing Delivery Sites, which are getting more efficient due to predictive AI algorithms improving inventory placement, and streamlined picking, sorting, and fulfillment processes. The new faster delivery options should enable Amazon to better compete vs local gig economy delivery services. We remain constructive on continued delivery efficiency improvements, while the implementation of new delivery fees suggest Amazon continues to be focused on Retail unit economics that should drive long-term margin expansion. Maintain Buy on Amazon given ongoing r-Retail service improvements and efficiencies."

For an analyst ratings summary and ratings history on Amazon.com click here. For more ratings news on Amazon.com click here.

Shares of Amazon.com closed at $211.74 yesterday.