After Amazon announced one of its “most significant grocery expansions” by introducing thousands of fresh perishable groceries into its retail network, JPMorgan analyst Doug Anmuth said the firm believes the expansion of same-day delivery on fresh perishable groceries to over 2,300 U.S. cities by the end of the year will drive greater share of wallet, higher purchase frequency and also support Prime pricing power. The analyst, who continues to identify Amazon as his “Best Idea,” reiterates an Overweight rating and $265 price target on the shares.
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