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Amazon is 'our best idea,' Guggenheim says

Amazon shipping center in Schertz, Texas
Robert Daemmrich Photography | Corbis | Getty Images

Guggenheim initiated coverage of Amazon with a buy rating on the prospect of continued rapid e-commerce growth and cloud computing strength.

"We expect AMZN to benefit from the ongoing consumer spending migration online and are encouraged by accelerating paid unit growth and improved margins for both North America and International retail segments," analyst Robert Drbul wrote in a note to clients Thursday.

"Our 'Best Idea' is"