Global eCommerce behemoth Amazon (NASDAQ:AMZN) has begun ‘Amazon Air’ its air cargo offering in the strategic Indian market.
The service could boost delivery efficiency and Amazon has picked up a stake in Quikjet (an Indian cargo carrier) and will initiate the service in Bengaluru, Hyderabad, New Delhi, and Mumbai.
Importantly, the move would provide Amazon greater control over deliveries while deliveries outside of these cities will be handled by third-party service providers.
Meanwhille analysts continue to remain Bullish about the stock with a Strong Buy consensus rating alongside an average price target of $133.04. This points to a substantial 36.76% potential upside in the stock.
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