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Two Firms Lift Amazon Stock Price Targets

2018-07-16 60 Dailymotion

Investing.com - Two Wall Street firms raised their stock-price targets for Amazon (NASDAQ:AMZN) ahead of the e-commerce giant's quarterly earnings in late July.Canaccord Genuity upped its 12-month target 11% to $2,000 a share.The firm said Amazon's "rapidly growing scale of investment is strengthening its long-term competitive barriers."IGH Insights also lifted its price forecast to $2,000, an 8% increase. IGH said the company is on track to handle 50% of all e-commerce spending by 2019.Amazon shares are up more than 75% in the past 12 months. The company is expected to report earnings on July 26.