CIBC Oppenheimer analyst Henry Blodget is at it again. You may remember Blodgett as the man who in December increased his price target for Amazon.com (Nasdaq: AMZN) to $400 (US$), prior to the online bookseller’s 3-for-1 stock split.
After the stock moved past that level much faster than he expected, Blodgett understandably became less bullish. But Amazon.com has given a lot back in its stock price recently, and Blodgett said Friday that he thought Internet stocks would reach new highs this year. One of Blodgett’s favorites that he mentioned on Friday? You guessed it: Amazon.com.
Amazon.com closed up 12-3/8 to 101-7/8 on Friday.