Amazon just can’t stop growing.
So far the online giant has risen in every single day this year with a record since mid- 2013, pushing the company to the highest point of its 20 years of public company.
“Amazon has potential for more gains”, said Max Wolff, chief economist of The Phoenix Group.
Amazon has managed to outpace its peers, even in a market hitting new highs. The stock has close almost triple the S&P500’s year-to-date gain to 13%. The company is also second best performing FANG stock of the year. It’s right after Netflix.
Analysts are giving positive signs for the growth of Amazon. Recently was given the highest forecast among analyst firms by BMO Capital, setting its price target from $1200 to $1600. More than 80% of those surveyed by FactSet, have a buy rating on the stock with an average target price of $1343 represents 2,5% upside to current levels.