UBS analyst Eric Sheridan is eyeing nearly 20 percent in shares of Amazon.com, Inc. (NASDAQ: AMZN), as he maintained his Buy rating and raised his price target from $1,100 to $1,200.

In our newly published & rebuilt Amazon financial model, we take a fresh approach at modeling some of the long-tailed opportunities that can drive overall Amazon ecosystem value, Sheridan wrote Monday. He specifically highlighted four components he believes will drive growth for shares of Amazon.

Overall, Sheridan remains bullish on Amazon especially after channel checks raised his short/medium-term estimates.

As a result of that, we feel comfortable recommending Amazon as a Buy despite its strong YTD stock performance," Sheridan concluded. "With many avenues of growth ahead, we think that investors are much more likely to remain focused on topline opportunities vs. the quarterly cadence of profit margins."

To read the latest and exclusive financial news, check out the Benzinga Pro news wire.

Image credit: By lvaro Ibez from Madrid, Spain (Amazon Espaa por dentro) [CC BY 2.0 (http://creativecommons.org/licenses/by/2.0)], via Wikimedia Commons

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UBS Revisits Amazon Ecosystem, Raises Price Target To $1,200 ... - Benzinga