Amazon.com (AMZN) Steps Into Google Territory, PT to $1,850 - Jefferies

(Updated - March 13, 2018 7:29 AM EDT)

Jefferies analyst, Brent Thill, raised its price target on Buy-rated Amazon.com (NASDAQ: AMZN) to $1,850 from $1,750 after taking a deep dive into the company's advertising business and determining that the segment is growing at a 40%+ CAGR and will hit $22B by '22.

While Amazon isn't known for being shy about taking marketshare, the analyst believes it can grow its ad business without encumbering growth for Facebook or Google stating "Amazon is aggressively growing its advertising business, but not at the expense of Facebook & Google. Advertisers continue to shift dollars from offline to online and are focusing on publishers that have highly relevant and fresh data. We believe FB, GOOGL and AMZN are each leaders in this category and will continue to garner greater share of the overall shift of ad dollars online".

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