Amazon.com (AMZN) - Get Report got a boost on Wednesday morning after Evercore ISI said the e-commerce giant was its top pick in the Internet sector for 2017. The firm has a "buy" rating and $990 price target on the stock. 

The company is set up for a stellar year because it can leverage data sciences and because of the cost efficiencies from its Cloud automation, according to the firm's note. 

Amazon.com well do better than Facebook (FB) - Get Report in 2017, Najarian Family Office cofounder Jon Najarian said on CNBC's "Halftime Report" on Wednesday afternoon. "I mean it has to be one of your number one picks," Najarian said. "I applaud ISI."

The company is really "hitting on all cylinders," he claimed. The retailer is growing its Amazon Prime members, its media business, as well as its grocery offering, Najarian noted. 

On the other hand, Lebenthal Asset Management CEO Jim Lebenthal said Amazon.com can't be the top pick in the space at its current valuation. 

"People will say the growth rate justifies the valuation. It's not that simple. It's the volatility of the earnings," he argued. 

The 30% to 60% beats and misses on earnings make its forward price-to-earnings multiple "impossible to justify," Lebenthal said. 

(Amazon.com is held in the Growth Seeker portfolio. See all of the holdings with a free trial.) (Facebook is held in Jim Cramer's charitable trust Action Alerts PLUS. See all of his holdings here.)