Guggenheim Sees 20% Upside In Amazon, Initiates Buy Rating - Amazon.com (NASDAQ:AMZN)

Guggenheim analyst Seth Sigman assumed coverage of Amazon.com Inc AMZN with a Buy rating and $4,300 price target, implying a 20.4% upside.
The analyst launched coverage on direct-to-consumer e-commerce stocks and is positive on the group entering fiscal 2022.
Online channel share gains should reaccelerate early next year after months of declines, and normalizing consumer spending growth may be good for the stock, Sigman tells investors in a research note.
For Amazon, the analyst sees potential for a "significant positive inflection" in early/mid-2022 versus its moderating sales and margin trends more recently.
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Price Action: AMZN shares traded higher by 0.15% at $3,577.94 in the premarket session on the last check Tuesday.