Wednesday, September 19, 2018

© Reuters.  Atlantic Equities raises Amazon price target© Reuters. Atlantic Equities raises Amazon price target

  • Atlantic Equities raises Amazon’s (NASDAQ:AMZN) price target to $1,250 on ad sales that could quadruple by 2020.
  • Analyst James Cordwell notes that sales of Sponsored Products, which allows third-party sellers to advertise in product searches, grew over 100% this year.
  • Cordwell predicts $8.8B in Sponsored Products sales by 2020, up from last year’s $1.5B to $2B.
  • Cordwell expects brand advertising sales to reach $3.2B by 2020 and total ad revenue to total $12B.
  • In other news, Amazon announces plans to hire 120K holiday workers for its fulfillment centers and customer service centers across the United States.
  • Previously: Amazon Alexa gets voice recognition (Oct. 11)
  • Now read: Costco (NASDAQ:COST)’s E-Commerce Plans Won’t Work

Original article

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