Piper Jaffray analyst Gene Munster weighed in today with his opinions on Amazon.com, Inc. (NASDAQ:AMZN) in response to the company’s expansion of it’s “same-day shipping service” to 6 new metro areas over the past twelve months. Munster maintained an Overweight rating on the stock with a price target of $520.00, which implies an upside of 19.3% from current levels.

Munster believes that same-day shipping is a powerful competitive initiative and can fundamentally change retail shopping, and open up the doors for an entirely new form of eCommerce. The analyst points out that immediate needs are now doable through eCommerce, with the advent of this new standard of delivery. This way, consumers will be less inclined to drive to a store and pick up their goods because now transportation cost, shopping hassle, AND time have been eliminated.

Furthermore, “While less than 1% of SKUs are typically available for same-day delivery, we believe that the SKUs Amazon is making available are high-frequency purchases and a curated selection.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Gene Munster has a total average return of 26.3% and a 71.6% success rate. Munster has a 23.8% average return when recommending AMZN, and is ranked #2 out of 3681 analysts.