It will be another great year for Amazon shareholders, according to one Wall Street firm.
Citi Research reiterated its buy rating for the internet giant’s shares, predicting Amazon will generate strong growth.
“We remain bullish on the consumer Internet sector, especially near term considering that a positive, tax reform fueled, business climate should benefit the end-markets of the companies we cover,” analyst Mark May wrote in a note to clients Friday. “Amazon moves up a spot to become our top-ranked pick as we see the combination of >30% topline growth, margin expansion, and 20x ’19 FCF as a compelling mix.”
