Baird’s top analyst Colin Sebastian weighed in today on e-commerce giant, Inc. (NASDAQ:AMZN), after the company announced expansion of its free same-day delivery offering to another 11 new cities, with 27 metro areas now served in the U.S.

Sebastian commented, “Over the long term, we continue to believe Amazon’s goal is to enable delivery of practically any product, to almost every customer, within an hour. In the meantime, we believe convenient and fast delivery continues to be one area of competitive differentiation for Amazon, as more and more general merchandise is sold through the platform, and skipping the traditional bricks-and-mortar channel.”

“We also believe that Amazon’s new investments in logistics and transportation (including leasing cargo planes) will support the roll-out of fast-delivery by more efficiently moving and balancing inventory levels among its fulfillment network,” the analyst added.

Sebastian reiterated an Outperform rating on shares of Amazon, with a price target of $710, which represents a potential upside of 21% from where the stock is currently trading.

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Colin Sebastian has a total average return of 15.3% and a 67.4% success rate. Sebastian has a 30.5% average return when recommending AMZN, and is ranked #35 out of 3762 analysts.

Out of the 46 analysts polled by TipRanks, 40 rate Amazon stock a Buy, while 6 rate the stock a Hold. With a return potential of 25%, the stock’s consensus target price stands at $731.98.