Amazon to reach $1,110 this year on increasing e-commerce dominance, JPMorgan says

on May18

A United Parcel Service delivery driver carries Amazon.com packages in Brooklyn, N.Y.

Victor J. Blue | Bloomberg | Getty Images

A United Parcel Service delivery driver carries Amazon.com packages in Brooklyn, N.Y.

Investors should buy Amazon stock because its share of the U.S. e-commerce market will rise significantly in the next two years, according to JPMorgan, which reiterated its overweight rating on the internet company.

“We believe Amazon is well positioned as the market leader in e-commerce, where it’s still early days with U.S. e-commerce representing ~12% of adjusted retail sales (ex-gas, food, and autos),” analyst Doug Anmuth wrote in a note to clients Wednesday. “We believe Amazon continues to show strong ability to take share of overall e-commerce, and its flexibility in pushing first-party vs. third-party inventory and its Prime offering both serve as major advantages.”



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