Analyst See More Apparel Shopping On Amazon, Ups Price Target

2018-03-20 18

Investing.com - Amazon (NASDAQ:AMZN) has earned another stock-price target increase.This time its Wells Fargo (NYSE:WFC), which raised its 12-month forecast from $1,700 to $1,755.Wells Fargo made the change after conducting a survey that showed Amazon shoppers were buying more apparel than they were a year ago.That's likely to prompt more clothing retailers to strike deals with Amazon to sell their goods on the ecommerce giant's site.Most Wall Street firms upgraded Amazon' s price target in February, after the company released strong fourth-quarter earnings. Wolfe Research has the highest forecast, at $2,000.Amazon shares are up more than 30% this year.