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Amazon's price target is raised to US$1,800 by Credit Suisse analyst

Stephen Ju is also keeping his outperform rating on Amazon's shares

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Amazon is positioned to 'capture the next wave of retail dollars' coming from the offline arena

The price target for Amazon.com’s (NASDAQ:AMZN) stock has been hiked to US$1,800 from US$1,750 by Stephen Ju, a Credit Suisse analyst, ahead of the online retailer’s first-quarter results on April 26.

Ju, who has an outperform rating on Amazon’s shares, says that Amazon is positioned to “capture the next wave of retail dollars” to come from the offline arena, according to his note, which was obtained first by TheFly.com, the business news portal.

Ju also argues that Prime Wardrobe, Amazon’s retail clothing outlet, and any tie-up between its grocery arm Whole Foods and Prime Now will serve as “spearheads” to address missed chances in the apparel and grocery sectors, which Ju regards as having “large pools of dollars still left to come online.”

Serving up the US Open

Ju’s note comes in the same week that Amazon vacuumed up the rights for five years to live stream the US Open Tennis tournament for its Prime customers in the UK and Ireland.

The deal will start with this year’s US.Open, which kicks off on August 27 at Flushing Meadows in Queens, New York.

Amazon customers with an Amazon Prime membership will able to watch the US Open on Prime Video, which offers members access to the streaming of films and television shows.

Shares were down 1.5% at US$1,533 in midday trade.

Quick facts: Amazon.com, Inc.

Price: 1963.95 USD

NASDAQ:AMZN
Market: NASDAQ
Market Cap: $977.67 billion
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