Pro Analysis

Amazon gets two more $1,000 price targets

Jeff Bezos
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Jeff Bezos

Wall Street is getting increasingly bullish on Amazon, with two firms raising their price targets on the e-commerce giant to $1,000 or more.

Investors should buy the internet retailer's shares on the prospect of better automation efficiencies from artificial intelligence, according to Evercore ISI, which reiterated its buy rating.

"[Amazon is in an unique position] to apply automation to drive audience conversion while similarly applying it to warehousing and delivery," analyst Ken Sena wrote in a note to clients Friday.

"This stands to drive not only greater overall customer satisfaction through shorter delivery times, narrower delivery windows and lower overall delivery costs, but operating margin expansion for Amazon as well," he said.