Wall Street Tries To Keep Up With Amazon

Investing.com - The stock market may be on shaky ground, but Amazon (NASDAQ:AMZN) is in a world of its own.Ever since Amazon reported gangbuster fourth-quarter earnings, Wall Street analysts have been rushing to boost their price target for the stock.And most of the increases have been huge.RBC Capital Market, for instance, went from $1,200 to $1,700. The firm also gave Amazon an outperform rating.Monness Crespi Hardt is at the top with a $2,000 price target, up from $1,500.Susquehanna International isn't far behind at $1,850. Morgan Stanley (NYSE:MS) is among the lowest at $1,500.Amazon shares have risen 70% in the past 12 month, breaking the $1,400 level.Not only did Amazon deliver better-than-expected earnings, it also raised its guidance for the current quarter.Analysts say Amazon will continue to benefit from the shift of business from brick and mortar to online, especially with its ability to deliver products quickly.Analysts also see earnings power in its cloud computer business, called Amazon Web Services, and opportunities for international expansion.