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Amazon’s focus on boosting profits could raise shares by 25%, KeyBanc analysts say

March 15, 2019

Via: CNBC

Closing pop-up stores, pushing the grocery business and focusing on advertising all will help Amazon boost profits, KeyBanc analysts said as they boosted the online retailer’s price target.

The KeyBanc analysts raised their recommended allocation on Amazon to overweight and boosted the price target to $2,100, implying nearly a 25 percent gain from Thursday’s close. Shares rose about 1.1 percent in premarket trading Friday.

The company “is taking a number of operational moves to improve profitability in core retail, which could drive mid-term earnings above the current consensus view. AMZN is pivoting to a company with accelerating profitability.”

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