Deal brings Amazon within 20 miles of 63% of U.S. population, says Piper
Piper Jaffray analyst Michael Olson says an analysis done by his firm's analytics team indicates Amazon.com's (AMZN) footprint with Whole Foods' (WFM) is within 20 miles of 63% of the U.S. population, up from 46% without Whole Foods. It is clear that Whole Foods is getting Amazon more locations within highly trafficked areas, with the population reach within five miles increasing to 30% from 12%, Olson tells investors in a research note. The analysis reaffirms his belief that the Whole Foods deal is additive to Amazon's go-to-market strategy for in-store, click-and-collect, and delivery based grocery sales. Olson reiterates an Overweight rating on the shares with a $1,200 price target
