Business Corpus: Amazon Stock Gets Buy Rating On Growth Opportunities AheadA buy rating was issued on Amazon stock, with a price target about 20% above where shares of the e-commerce giant currently trade, with plenty of revenue growth seen ahead for the company. The post Amazon Stock Gets Buy Rating On Growth Opportunities Ahead appeared first on Investor's Business Daily.

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A buy rating was issued on Amazon stock Monday with a price target about 20% above where shares currently trade, with plenty of revenue growth seen ahead for the e-commerce giant.

Pivotal Research analyst Brian Wieser initiated coverage on Amazon (AMZN) with a price target of 1,920.

Amazon stock was up 3%, near 1,624, during morning trading on the stock market today. Amazon stock broke above its 50-day moving average.

"The company is massive, but small in context of the commercial opportunity Amazon is pursuing," Wieser wrote in a note to clients.

"With a focus on selling as many consumer goods as possible, we see Amazon's retail activities as a play on global consumer spending, which is much broader than pure retail or today's e-commerce business," he wrote.

Amazon Stock Growth In Whole Foods Expansion

Amazon's expansion of its Whole Foods supermarket chain in addition to the continuous growth of its distribution centers opens up greater opportunities to capture in-store sales along with traditional e-commerce. Amazon intends to expand its delivery and pickup services to most of its more than 400 Whole Foods stores.

Another emerging opportunity for Amazon is its growing advertising business. In 2018, Amazon captured about $9 billion in ad revenue. Weiser expects advertising to grow faster than any other revenue stream at Amazon.

"Amazon will easily be the 'third force' in digital advertising after Google (GOOGL) and Facebook (FB)," he said.

Wieser estimates the company's cloud computing unit, Amazon Web Services, reached revenue of more than $25 billion in 2018.

"With substantial upside potential for AWS and a strong track record, we think we can safely assume significant ongoing revenue growth for the foreseeable future," he said.

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The post Amazon Stock Gets Buy Rating On Growth Opportunities Ahead appeared first on Investor's Business Daily.