Image Source: Pixabay
JPMorgan analyst Doug Anmuth says Amazon.com (AMZN) remains his top pick overall with an Overweight rating and $4,600 price target.
The stock closed Monday up $37.04 to $3,383.87. Amazon's share of U.S. e-commerce increased to 39% in 2020 and the company should surpass Walmart (WMT) as the largest U.S. retailer in 2022, Anmuth tells investors in a research note.
He believes e-commerce penetration will continue to increase in 2021. Anmuth projects e-commerce will reach 30% penetration of retail in 2025, and could be 40%-50% over time.
Comments
Log in or sign up to join the conversation.