A strong showing at the highly anticipated Prime Day summer sale could boost Amazon , Bank of America said.
Analyst Justin Post reiterated a buy rating on Amazon ahead of the start of its Prime Day, which opens July 11 and goes through July 12.
The analyst noted this year's Prime Day marks the first since Amazon's transition to a regionalized logistics network, which suggests the online retailer can make even faster Prime Day deliveries than in years past.
"With consumers looking for deals, more merchant participation, faster deliveries, and steep discounts, we expect a relatively strong Prime Day, with potential for upside to our 12% growth estimate vs. Prime Day last July, and potentially setting up Amazon for modest GMV acceleration in 3Q.
Maintain Buy," Post wrote.
Persons:
Justin Post, Post, — CNBC's Michael Bloom
Organizations:
Bank of America, Amazon, Bank of
Locations:
Friday's