Shares of Amazon (NASDAQ: AMZN) climbed higher on Tuesday, adding as much as 2.6%. As of 1:41 p.m. ET, the stock was still up 1.2%.

The catalyst that sent the e-commerce titan higher was a bullish take from a Wall Street analyst.

Analysts at Bernstein named Amazon the firm's "Best Idea for 2024," according to online investment publication The Fly. The analysts maintained an outperform (buy) rating and a $175 price target on the shares, which suggests additional upside potential of 21% compared to Monday's closing price.

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Source Fool.com