RBC Raises Amazon Price Target to $3,300

How high can Amazon.com (NASDAQ: AMZN) go? RBC Capital analyst Mark Mahaney thinks as high as $3,300 -- 10% greater than the next nearest estimate on Wall Street of $3,000.

The COVID-19 pandemic is only serving to push the retail giant into a greater position than it previously occupied. A retail survey by Mahaney revealed that Amazon "is likely the best global play off online retail," he told clients. He also pointed out that prime membership penetration soared recently to 67% of the U.S. population, up from 59% at the end of 2019, with membership nearing the 200 million mark after closing 2019 at 150 million.

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Source Fool.com