Amazon's Stock Price Target Jumps To $800 At Deutsche Bank

Amazon.com Inc.'s stock price target was raised on Tuesday to $800 from $725 at Deutsche Bank, which cited an increased valuation of the online retailer's Amazon Web Services (AWS) cloud business. Analyst Ross Sandler's price target, which is 27% above Monday's closing price of $628.35, now ties for the highest among the 33 analysts that have provided targets to FactSet. Deutsche Bank called AWS "the growth story of the decade," as it is nearly seven-times bigger than its next competitor, has nearly 100% share of the start-up ecosystem and is benefiting from the accelerated pace at which Fortune 500 companies are moving software and infrastructure workloads to the public cloud. Sandler said he values the AWS business, by itself, at $300 a share. "From a size standpoint, AWS is the clear market leader in the public cloud space, and appears to be extending its dominant position with new features," Sandler wrote in a note to clients. The stock, which was little changed in premarket trade, has doubled year to date, while the S&P 500 has ticked up 2.2%.