Consider adding Amazon to your holiday stock shopping list, according to JPMorgan.
Analyst Doug Anmuth named the stock its best idea heading into the holiday stretch, citing expectations for 7.5% year-over-year growth and online shopping market share gains.
Shares have rallied 36% this year, with the firm's $250 price target implying 20% upside from Tuesday's close.
"Amazon maintains a leading ~45% share of US e-comm & enters the holiday season with strong momentum from early holiday promotions, [same-day/1-day delivery], regionalization, expansion of the Prime ecosystem, & competitive prices," he wrote.
Amazon shares have popped more than 35% year to date, and analysts see more upside ahead.
Persons:
Doug Anmuth, Anmuth, Amazon's
Organizations:
JPMorgan