KeyBanc Resumes Coverage of Amazon (AMZN) with Overweight Rating, $300 PT on Retail, Cloud Outlook

Group 1 - Amazon.com Inc. is expected to double in value over the next three years, with KeyBanc resuming coverage and assigning an Overweight rating and a $300 price target [1][2] - The growth in Amazon's retail business is significantly driven by advertising revenue, which is anticipated to enhance the grocery segment's importance in the medium term [1] - KeyBanc believes that investor pessimism regarding Amazon's Cloud business is unwarranted, predicting improved growth as the company approaches 2026, thus presenting an attractive entry point for investors [2] Group 2 - Amazon operates in the retail sale of consumer products, advertising, and subscription services through both online and physical stores, with a presence in North America and internationally [3] - The current valuation multiple of Amazon is noted to be well below historical levels, indicating potential for growth [2]