Pacific Crest Raises Price Target on Shares of Amazon

On Thursday, analysts at Pacific Crest upped their price target on shares of Amazon (AMZN) - Get Report . They increased the price target to $820 from $800 while maintaining an Overweight rating. Analysts raised their earnings estimates by $0.05 cents to $5.55 A shares for this year. Amazon's plans to lease freight aircraft could lead to savings and higher earnings, noted the Pacific Crest analysts. They added that leasing 40 planes could lead to $440 million in annual savings.

This article was written by a staff member of TheStreet.