Amazon Extends Work-at-Home Effort Through Jan. 8

Online retail and tech firm will permit employees who can work from home to continue doing so through Jan. 8.
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Online-retail and tech colossus  (AMZN) - Get Report will permit employees who can work from home to continue doing so through Jan. 8.

The news was broken by GeekWire and then confirmed by the company.

“We continue to prioritize the health of our employees and follow local government guidance,” an Amazon spokesperson said.

GeekWire discovered the policy in an internal policy page.

“There are several risks for the employee to consider, such as personal income tax, visa requirements; and for the company, such as payroll and corporate tax associated with working from a location that is not an employee’s regular, contracted county, state, or province,” Amazon said in the document.

Amazon didn’t say how many workers would be affected by the extension, but noted that the new policy is “global guidance,” CNBC reports. The company had 840,400 full- and part-time workers as of March 31.

On Monday, Cowen analyst John Blackledge raised his share-price target on the Seattle company to $3,700 from $2,750, affirming his outperform rating.

The new estimate is the highest on Wall Street, according to Seeking Alpha.

“Amazon has several drivers that should yield robust global revenue growth with rising margins the next several years,” Blackledge wrote in a commentary.

Three of those drivers are:

· “Further [business-to-consumer] e-commerce market-share gains in large retail verticals;

· “Emerging e-commerce verticals like [business-to-business];

· “Significant opportunity in existing and newer international markets like India, Mexico, and Australia.”

Amazon recently traded near $3,019, down 2.1%. The stock has soared 63% year to date, though it has slid 6% this week.