TD Cowen keeps a Buy rating and $300 price target on Amazon.com (AMZN) after the company announced that it has expanded its Same-Day delivery of fresh groceries to over 2,300 cites and towns. Faster delivery speed helps drive higher conversion, in turn driving the Prime flywheel, and today’s announcement underscores this trend, as Prime customers ordering fresh groceries shop “twice as often” vs. those who don’t order fresh, the analyst tells investors in a research note. The improved selection with perishable food services should continue to drive Amazon’s overall growth in the broader grocery category, the firm added.
Claim 55% Off TipRanks
New trading tool for AMZN bullsPublished first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMZN:
- Can Nvidia Stock (NVDA) Reach a $10 Trillion Market Cap by 2030?
- DA Davidson technology analysts hold an analyst/industry conference call
- AI Data Centers in Space? Elon Musk and Jeff Bezos Are Trying to Make It Happen
- Waymo Surges to 14 Million Rides in 2025, Widening Lead Over Uber and Tesla
- Shares of rivals slip as Amazon expands same-day grocery delivery