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Stasior left Apple earlier this year. Prior to his time in charge of Siri, he was a top executive at Amazon.Technologyread more
Closing pop-up stores, pushing the grocery business and focusing on advertising all will help Amazon boost profits, KeyBanc analysts said as they raised the online retailer's price target.
The analysts increased their recommended allocation on Amazon to overweight and boosted the price target to $2,100, implying nearly a 25 percent gain from Thursday's close. Shares rose about 1.1 percent in premarket trading Friday.
Amazon "is taking a number of operational moves to improve profitability in core retail, which could drive mid-term earnings above the current consensus view. AMZN is pivoting to a company with accelerating profitability."
Specifically, the analyst team, led by Edward Yruma, pointed to Amazon's decision to shutter its pop-up kiosks used to sell hardware products. Yruma also cited potential in the midmarket grocery business and the Fresh Pickup service.
Finally, Amazon Web Services and advertising could boost margins by $100 billion and lead to significant margin expansion, the analysts said.