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J.P. Morgan sets $1,000 price target on Amazon, shares +2%

Following recent $1,000+ target raises at RBC Capital Markets and Evercore ISI.

Analyst Doug Anmuth: “We believe Amazon continues to show strong ability to take share of overall eCommerce, and its flexibility in pushing first-party versus third party inventory is a major advantage compared with other retailers.” Further: “Our price target is based on a sum-of-the-parts analysis as we believe this methodology appropriately attributes value to the company’s large, fast-growing and surprisingly profitable …Amazon Web Services segment, which Amazon continues to invest in.”

J.P Morgan previously held an Amazon (AMZN +1.8%) target of $925 (current price $813.68).

Seeking Alpha (28 Sept)