Amazon’s fulfillment buildout gives big boost to target price: Mahaney
Evercore ISI senior managing director Mark Mahaney raises Amazon’s target price as the company ramps up new distribution capacity to accelerate same-day delivery.
Amazon CEO Andy Jassy made the rounds on Capitol Hill this week during his first visit since taking the helm at the e-commerce giant, according to a new report.
Jassy officially took the reins from Amazon founder Jeff Bezos in July.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM, INC. | 3,416.00 | +35.95 | +1.06% |
Andy Jassy, chief executive officer of Amazon. (Photographer: David Paul Morris/Bloomberg via Getty Images) (David Paul Morris/Bloomberg via Getty Images) AMAZON EXPANDS FULFILLMENT INFRASTRUCTURE AMID ANTITRUST HURDLES Citing a source briefed on the matter, Politico reported that Jassy met with several members of Congress, including top leadership for both parties, having sit-downs with Senate Majority Leader Chuck Schumer, House Speaker Nancy Pelosi, Senate Minority Leader Mitch McConnell, and House Minority Leader Kevin McCarthy. Amazon has become a popular target of lawmakers, with Democrats seeking unionization of the retailer's workers and members on both sides of the aisle suggesting the firm is essentially a monopoly. The company, along with other big tech titans like Facebook, is working to fend off regulators seeking to crack down on the behemoths over allegations of antitrust violations. The threats extend beyond Capitol Hill, too. The Federal Trade Commission has been on the warpath against Amazon and Facebook, and both firms have requested that FTC Chair Lina Khan – a longtime antitrust advocate – recuse herself from their respective pending antitrust litigation cases filed by the agency. GET FOX BUSINESS ON THE GO BY CLICKING HERE Amazon did not respond to FOX Business' request for comment on the meetings, some of which were confirmed by lawmakers. Source: Read Full Article