Amazon Price Target Boosted To $520 At Piper Jaffray

. The price target was raised from $475 to $520. The analyst believes that there is meaningful upside to the stock. "Following the Sept guidance catalyst, we believe investor focus will shift to revenue growth, which we are optimistic about given investments in same day shipping, Fresh and more broadly that eCommerce is still in its infancy," Munster said, adding, "Our outlook remains long-term and we encourage investors to think of Amazon in light of the 5+ year eCommerce & cloud opportunity." The analyst expects Amazon to witness multi-year operating margin expansion. However, investors are expected to shift their focus to the company's top line growth once the company reports its September quarter results and its December quarter guidance. "We are confident that this re-focus will be met with strong performance as Amazon's eCommerce growth rates have meandered down to general eCommerce rates and should find support there, AWS is prepped to lap significant pricing headwinds, and Amazon has multiple irons in the fire that should maintain strong growth going forward," the Piper Jaffray report stated. The analyst also believes that eCommerce is only in its "2nd/3rd inning" of development and could, in time, contribute 20-30 percent of retail sales in the US, especially given initiatives like Amazon's same day shipping offer. "We believe Amazon will continue to penetrate and revolutionize retail sales," Munster added.