Citi sees only modest upside to Amazon shares from grocery push
Amazon.com's two most relevant grocery initiatives, AmazonFresh and Amazon Grocery Stores, makes strategic sense, Citi analyst Mark May tells investors in a research note. He views the brick and mortar store concepts as having "both the greater likelihood of garnering broad consumer adoption and of having the most favorable margin profile." His analysis, however, suggests that the upside to Amazon shares directly tied to the grocery store initiative could be modest, or less than $5 per share. May has a Buy rating on Amazon with a $960 price target
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