A strong showing at the highly anticipated Prime Day summer sale could boost Amazon , Bank of America said. Analyst Justin Post reiterated a buy rating on Amazon ahead of the start of its Prime Day, which opens July 11 and goes through July 12. Bank of America expects the shopping event will likely be stronger than it was the year prior, driving meaningful sales for Amazon and helping it continue to take online retail market share.
mountain Amazon shares 1-day "We project 10% 2Q and 10% 3Q [gross merchandise value] growth for Amazon , and note Amazon is likely still taking share within Online Retail ," Post wrote in a note Sunday. The analyst noted this year's Prime Day marks the first since Amazon's transition to a regionalized logistics network, which suggests the online retailer can make even faster Prime Day deliveries than in years past.