As the economy struggles to sustain the slim growth it saw early in the year, one investment consultancy suggests online retailer Amazon.com could be well-positioned to weather a potential recession, according to Reuters.
Economists told Reuters that the U.S. economy could fall into a recession as Europe continues to struggle with the ongoing debt issue in Greece and while U.S. unemployment lingers above 9 percent. Analysts at Stifel Nicolaus, however, noted that Amazon has seen sales grow even as spending declines elsewhere.
"We are more comfortable that Amazon can continue to grow more than 30 percent organically for the next two years, even in a low or no-growth environment," Stifel analysts wrote, according to Reuters.
The report attributed this strength to growing demand for electronic products such as eBooks and cloud services, both of which could benefit from the recent introduction of Amazon's tablet, the Kindle Fire. ZDNet reports the company could supplement this market with its new WhisperSync cloud service.
Stifel assigned a value of $280 per share, more than 30 percent above the company's $212.25 per share trading price at 11:21 am on Wednesday, October 5.