SunTrust raises Amazon price target to $1,400; shares +2%

SunTrust Robinson Humphrey raises its Amazon (NASDAQ:AMZN) price target from $1,270 to $1,400.

Analyst Youssef Squali cites Amazon’s “maniacal focus on the customer” and leveraging technology innovation to disrupt across multiple industries including commerce, entertainment, and IT. 

The differentiation and sustainable advantages “should continue to enable the company to grow disproportionately faster than peers, gain market share in several segments of the global economy and sustain above-peers valuation multiples for years to come.”   

Amazon shares are up 2.1%.    

Previously: Fox TV"s Walden out of running for Amazon Studios chief (Jan. 11)