Piper Jaffray's Munster Boosts Target on Amazon.com (AMZN)

Earlier, Piper Jaffray analyst Gene Munster lifted his price target on Overweight-rated Amazon.com (NASDAQ: AMZN) from $260 to $297, or the second highest on Wall Street.

Munster cites strength in Amazon prime, which he estimates is approx. 12 million members strong. These users buy 6x more items and are a driver of marketshare gains, he notes.

For an analyst ratings summary and ratings history on Amazon.com click here. For more ratings news on Amazon.com click here.

Shares of Amazon.com closed at $246.22 yesterday.

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