Analysts See Amazon Gaining Another 11% This Year

amazonRetail megapower Amazon.com, Inc. (NASDAQ:AMZN) received bullish analyst commentary from two Wall Street firms Monday morning, the latest in a long string of positive notes.

Cantor Fitzgerald set their price target for AMZN at $835, suggesting a 10% upside to the stock’s Friday closing price of $759.28. Cantor currently has a “Buy” rating on the stock, which it reaffirmed just last week. That was the second time the analyst reiterated its Buy rating. It had also done so back in May.

Cantor has long been bullish on Amazon, making a nice call back in August of 2015, when it said the selling in the stock was overdone, and represented a buying opportunity. Amazon was only around $500 per share at the time, so the firm has been dead-on with its analysis.

Pacific Crest also lifted its price target on AMZN, from $820 to $847. That new target suggests an 11% upside. The analyst currently has an “Overweight” rating on the shares, which it initiated back in December of last year. Since then, Amazon shares have gained around 13%.

These two notes come on the heels of Friday’s analyst love fest, where at least twelve separate firms boosted their targets for AMZN in a single day.

Amazon shares rose $4.38 (+0.58%) to $763.19 in Monday morning trading. The stock has gained 12.83% year-to-date, doubling the percent gain of the S&P 500 in the same time frame.

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