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Josh Brown Weighs In On Amazon

Craig Jones
·1 min read

Josh Brown spoke on CNBC's "Fast Money Halftime Report" about Pivotal Research's bullish call on Amazon.com, Inc. (NASDAQ: AMZN). The analyst raised Amazon's price target to $4,500 and kept the Buy rating for the stock.

Brown doesn't see the price target as unlikely. He explained that Amazon is up 500% in the last five years and 1,800% in the last 10 years and those moves probably seemed equally unlikely before they happened. He added that the company is the most powerful corporation in the history of the United States. Brown believes Amazon is deliberately holding back from growing so it doesn't end up in five different anti-trust suits.

The company is not doing buybacks at the moment and it's not paying a dividend.

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