- Evercore ISI analyst Mark Mahaney raised the price target Amazon.com Inc AMZN to $4,700 from $4,200, implying a 35.9% upside, and reiterated an Outperform.
- Mahaney believes investors "under-appreciate the magnitude and meaning of Amazon's dramatic fulfillment capacity expansion."
- Over the past five years, he has tracked a 17x increase in the number of Delivery Stations that the part of Amazon's fulfillment network, most of which focus on One Day and Same Day Delivery.
- Mahaney believes this will "materially strengthen Amazon's customer value proposition" and increases his confidence in the company's long-term growth outlook.
- Price Action: AMZN shares traded lower by 0.33% at $3,445.90 on the last check Tuesday.
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