Amazon.com, Inc. AMZN shares are trading higher by $11.00 at $867.00 in Wednesday's session.
Investors are following the lead of Cantor analyst Youssef Squali. He reiterated his Overweight rating and raised its price target from $965.00 to $970.00. He stated the company is well positioned to "dominate the new retail."
Separately, Barclays analyst Ross Sandler initiated coverage of Amazon with an Overweight rating and $1,120 price target.
After a higher open, Amazon's stock had a brief retreat to $859.02 before continuing its move higher. It has easily surpassed its former all-time high of $860.86, rallying all the way to $868.00. Since reaching that elevated level, it has found intra-day support at $866.51.
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