Analyst Predicts Amazon Will Hit $2 Trillion Valuation
Wall Street is tripping over itself to heap superlatives on Amazon (NASDAQ: AMZN) after the e-commerce giant on Thursday reported massive sales and profit gains for the second quarter, but Deutsche Bank (NYSE: DB) analyst Lloyd Walmsley is going even further than most. He said he sees Amazon's market cap hitting an incredible $2 trillion in the not-to-distant future.
In a research note to investors titled "2 Trillion reasons why we like Amazon shares," Walmsley laid out the case for how the tech stock "utterly dominates" marketplace trends. He raised his 12-month price target from $3,300 per share to $4,000 per share, which he notes would push Amazon over the $2 trillion valuation threshold.
Image source: Getty Images.
Source Fool.com
