Amazon.com (AMZN) Shows Solid Growth, E-Commerce Sales Picking Up - Cramer
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Amazon.com (NASDAQ: AMZN) got a boost yesterday as Jim Cramer and colleague L.A. Little talked about the future of the stock.
Cramer's current price target is $216, about $82 above today's price. He believes that, due to strong e-commerce business and Amazon selling more than just music and books, room to grow is limitless. Amazon typically grows about 25% per year and estimates for Amazon's earnings potential are still low.
Little stated that the company is reaching an all-time high on stronger volumes, and the stock broke out in October and has since retested support levels and continued up. Little would buy, and would "back the truck up" if Amazon hits $126 per share.
Cramer's current price target is $216, about $82 above today's price. He believes that, due to strong e-commerce business and Amazon selling more than just music and books, room to grow is limitless. Amazon typically grows about 25% per year and estimates for Amazon's earnings potential are still low.
Little stated that the company is reaching an all-time high on stronger volumes, and the stock broke out in October and has since retested support levels and continued up. Little would buy, and would "back the truck up" if Amazon hits $126 per share.
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