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Guggenheim: Amazon the Main Winner in Consumer Spending Revolution

Friday, September 30, 2016 6:17
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amazon-a-logoRetail giant, Inc. (NASDAQ:AMZN) received some bullish sentiment today from analysts at Guggenheim Securities.

The firm initiated coverage on AMZN with a Buy rating and $950 price target, suggesting a 15% upside to the stock’s Thursday closing price of $829.05.

Guggenheim noted that Amazon will likely remain the big winner in the ongoing e-commerce “consumer spending evolution.”

Related: See what ETFs own the most Amazon stock

The firm said in a note to clients that it expects the Seattle-based retail juggernaut to capture around 25% of the U.S. e-commerce market by 2017, and approximately 3% of the total retail market. Along with its strong retail presence, Guggenheim noted that Amazon Web Services (AWS) also remains a key profit and share catalyst.

Amazon’s AWS segment, which offers cloud computing services used by hundreds of thousands of businesses around the world, has grown by leaps and bounds in recent years. Its rapid deployment, flexibility, and scalability makes it an attractive choice for app developers, websites, and more.

The company’s Prime service is also growing considerably, recently eclipsing Costco and Sam’s Club to become America’s favorite membership service. Amazon also boasts strong growth in the Internet of Things, logistics, and even the auto business.


Amazon shares rose $3.45 (+0.42%) to $832.50 in premarket trading Friday. Year-to-date, AMZN has gained 22.66%, versus a 5.29% rise in the benchmark S&P 500 during the same period.

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