5 Best Retail Stocks To Buy Now

Amazon remains a giant in the retail and e-commerce space, upending the conventional shopping trends and retaining its position as the prime mover in the online shopping boom that is taking over the world. Over the last 12 months, Amazon shares have gained about 63%. The stock still has a big room for growth as the company continues its expansion outside the U.S. and in various sectors like pharmacy, drone delivery, digital payments and entertainment content.

In January, BofA increased its price target for AMZN to $4000 from $3,650 and maintained a Buy rating on the back of growth in Cloud, ecommerce and the company’s edge in the fulfillment segment of the ecommerce industry.

A total of 245 out of 816 hedge funds tracked by Insider Monkey held stakes in Amazon at the end of the third quarter.

Here is what L1 Capital International Fund said about AMZN in their Q3 2020 Investor Letter:

“Several investments in the technology sector were trimmed on valuation grounds with the proceeds used to increase our investment in Amazon. Amazon’s successful flywheel business model and Amazon Web Services are well known. However, we believe the current share price under‑appreciates:

– The consistency and longevity of Amazon’s growth potential in its key businesses;

– The importance of additional revenue streams such as advertising which are high margin and growing rapidly; and

– The strengthening barriers to competition and competitive advantages arising from Amazon’s stepped‑up investment in logistics and other infrastructure.”

Please also see 5 Best Cloud Computing Stocks To Buy and 15 Largest Ecommerce Companies In The World.

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