Amazon shares to reach $3,000 in two years' time, Piper Jaffray predicts

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It's only up from here for e-commerce giant Amazon, according to Piper Jaffray.

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In a note to clients on Friday, an analyst for the investment bank predicts that shares for the company will rally to $3,000 in the next two years, ballooning the Seattle-based retailer's worth to nearly $1.5 trillion.

And the bonus part for Jeff Bezos? He doesn't have to do anything at all.

TickerSecurityLastChange%Chg
AMZNAMAZON.COM INC.1,826.78+3.24+0.18%

“We believe AMZN shares will reach $3,000 by sometime between mid-’21 and mid-’22 or within 24-36 months,” Michael Olson, an analyst for Piper wrote in a note, adding that the company believes shares can "reach this level with no major acquisitions or other significant changes to the business.”

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Piper rates the stock as overweight and said its 12-month price target for Amazon is $2,225. On Friday, pre-market shares were up on the news.

However, in order to rally to $3,000 over the next 24 months, shares for Amazon would need to see a gain of 65 percent from its current price of $1,815.

Overall, shares for the e-commerce giant are up more than 20 percent this year and more than 85 percent over the last two years.