Amazon's (NASDAQ: AMZN) share price is sitting close to a new all-time high as management focuses on optimizing costs and boosting the company's profits. Analysts at Wells Fargo see more upside for the company's profits that could push the stock higher.

Wells Fargo's investment firm raised its price target on Amazon from $211 to $217. Given its $180 share price at the moment, that represents an upside over the next 12 months or so of just under 21%.

Amazon invested heavily to expand its transportation infrastructure during the pandemic and now it's reaping the rewards of those efforts. Operating profit hit a record $13.2 billion in the fourth quarter, but improving efficiency in the online retail business is still an ongoing process.

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Source Fool.com