Stock Watch: Gets $160 Price Target

Shares of (Nasdaq: AMZN) soared more than 17 percent on Thursday, gaining 15-1/16 to 103-5/8. stock was boosted by the buy recommendation it received from J.P Morgan, which set a price target of $160 for the stock.

This target is an aggressive one, and investors might want to take note of what happened last year before they get too excited. Last year, Henry Blodget, then with CIBC Oppenheimer, gave a pre-split target of $400. The stock soon surpassed that mark as investors piled on, but fell hard after the holiday season before staging its latest comeback.

Investors need to understand that it is tough to value a company with increasing losses, and they should be ready for a roller-coaster ride with stock. That said, could continue to climb in the short term. In this market, momentum obviously means a lot.

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