Amazon.com Upgraded To Buy With $4,000 Target At China Renaissance

China Renaissance analyst Ella Ji upgraded Amazon.com (AMZN) to Buy from Hold with a price target of $4,000, up from $3,360.

With its "industry-leading" user engagement, supply chain, and logistics capacity, Amazon remains the best-positioned e-commerce stock, Ji tells investors in a research note.

Further, Amazon Web Services offers a "layer of stability" as compares get tough in 2021, adds the analyst. Ji believes the recent selloff in Amazon shares provides an "exceptional entry opportunity."