In a research report issued Monday, Axiom analyst Victor Anthony reiterated a Buy rating on shares of, Inc. (NASDAQ:AMZN), while raising the price target to $853 (from $811), as the company will be launching its 24-hour Prime Day sale tomorrow, and scheduled to report earnings for the second quarter on July 28.

Anthony wrote, “Prime Day kicks off tomorrow, and like last year, will serve as a means to drive more prime subscriptions, which we estimate at between 50M-55M today (16%-18% of the 310M active customers), and Amazon device sales. Amazon’s voice-activated home device Alexa, will play an active role in Prime Day with unique discounts for orders placed though the device. More awareness of Prime Day this year, more deals, and more retailer participation should help offset the 200bps growth impact and the 4pt paid unit growth acceleration reported in 3Q15.”

Furthermore, “We estimate that Amazon will report 2Q revenues of $29.39B, +26.7% YoY, and CSOI margin of 5.3%, +620bps. Our estimates assume retail revenues of $26.5B, +24% YoY, and AWS revenues of $2.88B, +58% YoY, with a 50bps improvement in AWS margins. Paid unit growth likely decelerated 2pt to 25%. Our estimates are generally in line with consensus, which we think are reasonable.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Victor Anthony has a yearly average return of 12.3% and a 63.6% success rate. Anthony has a 35.0% average return when recommending AMZN, and is ranked #65 out of 4035 analysts.

Out of the 46 analysts polled by TipRanks, 41 rate Amazon stock a Buy, while 5 rate the stock a Hold. With a return potential of 6%, the stock’s consensus target price stands at $797.90.