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Wells Fargo raised its price target on Amazon and said it expects "exceptionally strong" e-commerce demand to continue.
"While we note ramping local fulfillment capabilities and exceptionally strong ecommerce data pts from omnichannel retail competitors, we nonetheless expect thatis likely to benefit from exceptionally strong e-commerce demand in 2Q, likely extending into 2H20.
"After its announcement last week to acquire Peak for $1.8B the question remains whether the stock has reached its peak valuation or whether this will be another inflection point, similar to the prior two acquisitions.
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