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J.T. Marlin Raises Price Target on, Inc.

By Peter York, Published: November 25th, 2009 11:25 AM CST

J.T. Marlin today raised its price target on Inc (NASDAQ:AMZN)., from $120 to $500, citing valuation.

J.T. Marlin analyst Abbie Halpert joined dozens of sell side analysts in recommending  popular Amazon stock for their clients:

"It is the middle of the day today and it has not moved up.  In fact it is slightly down, and we find that to be a major buying opportunity."

Amazon is up over 40% since just about a month ago, when it blew away earnings expectations and left many analysts gasping for air:

"Now when I think of Amazon, I feel euphoric.  It's like the rest of the world disappears and everything becomes this stock symbol.  And I know I'm not the only one who feels that way," says Halpert.

Halpert's price target is based on several conversations with housewives about UPS delivery men: "They tell me that there is an instant connection between them and the UPS truck driver, and they can't stop buying from Amazon as a result.  Something about the company name makes them unleash with primal feelings.  We believe that to be a positive catalyst for stock price appreciation."

Halpert recommends buying as much as possible and cites her expectations for a 2015 multiple of 15X earnings per share.  "We look that far ahead with Amazon because it's just absolutely perfect.  Anybody not buying is out of their mind."

Disclosure: Annie Halpert was played by Nia Long in New Line Cinema's "Boiler Room"

Related: AMZN

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