Amazon (AMZN) shares have multiplied seven times in value over the past decade, including a 75% gain just this year. They’re not quite in the deep value bin, either, at 40 times this year’s projected free cash flow, versus 25 times for the S&P 500, Jack Hough writes in this week’s edition of Barron’s. But using year-after-next free cash projections for two other companies that are big in retail and cloud computing, Amazon at $190 would be only slightly more expensive than Walmart (WMT), and a bit cheaper than Microsoft (MSFT), the author notes. Opportunities abound for more revenue growth and margin improvement, the publication adds.
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