Jefferies analyst Brent Thill released a research report on June 21, maintaining a "buy" rating on Amazon.Com Inc (AMZN.US) with a target price of $4200, Zhitong Financial APP learned. He believes that if Amazon.Com Inc (AMZN.US) held another Prime Day event (Amazon.Com Inc member shopping promotion) during the holiday shopping season, the company's total merchandise turnover (GMV) would reach $11.1 billion and sales revenue would reach $8.1 billion.

Assuming this happens (holding the second Prime Day), Amazon.Com Inc is expected to achieve a total merchandise turnover of US $20.6 billion and a sales revenue of US $14.9 billion.

The two-day Amazon.Com Inc Prime Day kicked off among Prime members in 22 countries on Monday, and this year's event is four months ahead of last year.

Thill estimates Amazon.Com Inc's GMV last year at $10 billion.

"although the COVID-19 epidemic has led to changes in people's consumption patterns-more online shopping, Amazon.Com Inc's fundamental outlook looks better than ever before," the analyst said. But the price of the stock is at a 10% discount to its historical average multiple of enterprise value. " "at the same time, we have also seen growth in AWS and advertising, two of Amazon.Com Inc's highest profit margins, helping to offset the short-term slowdown caused by difficulties in the core retail business." Thill said.

If this month's Prime Day performance is strong, it will greatly help to revive Amazon.Com Inc's stock.

Amazon.Com Inc shares are up just 7.1 per cent so far this year, underperforming the 9 per cent rise in the Nasdaq composite index. Some professionals believe the unit is under some downward pressure because founder and chief executive Jeff Bezos (Jeff Bezos) will step down after July 5.