Analyst: Amazon Is Undervalued, Will Soar 40% Higher
Amazon, Inc. (NASDAQ: AMZN) received a major analyst upgrade today from Pivotal Research Group, a decade-old equity research company launched in 2010. Pivotal boosted its price target for the retail giant strongly today, The Street reports, increasing its prediction from $3,950 to $4,500 per share -- a forecast representing an approximate 40% upside over Amazon's share price of roughly $3,212 at the time Pivotal issued its note.
The price target is currently the highest of any predicted by Wall Street analysts and is accompanied by a buy rating. Analyst Michael Levine explained his reasoning by pointing to Amazon's advertising, a factor he feels is overlooked by analysts and traders.
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Source Fool.com
