Merrill Lynch analyst Henry Blodget is best-known for the $400 price target he gave Amazon.com (Nasdaq: AMZN) last year when he worked at CIBC Oppenheimer. Blodget, who has been accused — perhaps unfairly — of blatant boosterism, was at it again on Wednesday. Whether you agree with his views or not, you have to admit that he’s now a powerful player. .
Blodget talked up much of the Internet sector on Wednesday. One of the stocks that benefited was — surprise — Amazon.com, which he upgraded to a buy rating. Blodget has a $150 target price for Amazon.com, which is equivalent to a $450 pre-split target. Shares of Amazon.com climbed 3-7/8 to 113-1/18.
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