In a research report sent to investors today, Deutsche Bank analyst Ross Sandler maintained a Buy rating on Amazon (NASDAQ:AMZN) with a $350 price target, which implies an upside of 14% from current levels.

Sandler observed, “We see a number of potential catalysts emerging for AMZN in 2015, and like Google & Twitter, Amazon ranks towards the top of the list of large cap meanreversion ideas for 2015. 4Q14 results won’t likely drive estimates higher, but beyond the quarter we see: 1) lower oil prices helping shipping costs (10% of revenue), 2) easier comps from AWS price cuts and Japan starting in 2Q, 3) potential for rationalization of a few costs items like China and other projects, and 4) generally steady share gain in the core retail business. Amazon remains one of our top names in the group.”

Amazon.com, Inc. operates as an online retailer in North America and internationally. The company serves consumers through retail Websites, such as amazon.com and amazon.ca, which primarily include merchandise and content purchased for resale from vendors and those offered by third-party sellers.