Amazon.com shares got price target upgrades from KeyBanc and Deutsche Bank.
Analysts at KeyBanc raised their price target on the e-commerce giant’s shares to $2,200, up from a previous target of $2,100. KeyBanc analyst Edward Yruma mentioned that Prime Day emerged as the largest sales day in Amazon history, and was even bigger than Black Friday and Cyber Monday combined.
Meanwhile, Deutsche Bank analysts raised their price target on Amazon to $2,515 , up from $2,315. Analyst Lloyd Walmsley seems to be hopeful on the company's revenue and unit growth in the third quarter, which should cover some of the costs associated with the company’s move to one-day prime shipping. Walmsley also indicated that it is difficult for competitors to match Amazon’s delivery speed and costs even in the mid-to-long term, given limitations of scale.