Amazon.com, Inc. (NASDAQ:AMZN), specifically the online auction and e-commerce leader’s Amazon Web Services (AWS) segment is preparing to host re:Invent 2016, the biggest cloud event of this year, on November 28th, with over 24,000 in attendance. Ahead of the event, Pacific Crest analyst Brent Bracelin believes this will be a solid opportunity for the company to “showcase first-mover advantage accruing to AWS,” with advantage in public cloud infrastructure very “apparent,” from his perspective.

As such, the analyst reiterates an Overweight rating on shares of AMZN with a $905 price target, which represents a 21% increase from current levels.

Bracelin opines, “It could shift investor narrative back toward Amazon’s opportunity to gain share in a trillion-dollar cloud TAM. We remain bullish on AWS’ prospects to drive material upside to revenue and growth longer term for AMZN, considering AWS now represents 50% of combined operating profits.”

In comparison to its competitors, the analyst bets on AWS twice-over, asserting, “Bottom line: AWS has a material first-mover advantage over peers, particularly given its internal culture drives a rapid pace of innovation”

With regards to segments that will be particularly featured at the conference, Bracelin adds, “re:Invent will emphasize how AWS is moving up the stack beyond basic compute and storage infrastructure,” as AMZN’s Artificial Intelligence, Alexa, and Aurora assets set to “take center stage.”

Overall, considering AMZN is circling a run-rate of $13 billion, but still has managed to grow by a whopping 55% year-over-year, Bracelin surmises, “We remain impressed with the pace of innovation at AWS; it is contributing to much higher profit levels than most investors anticipated […]”

According to TipRanks, which measures analysts’ and bloggers’ success rate based on how their calls perform, three-star analyst Brent Bracelin is ranked #2,077 out of 4,226 analysts. Bracelin has a 52% success rate and gains 0.4% in his annual returns. When recommending AMZN, Bracelin earns 14.3% in average profits on the stock.

TipRanks analytics exhibit AMZN as a Strong Buy. Out of 32 analysts polled by TipRanks, 30 are bullish on AMZN stock and two remain sidelined. With a return potential of 27%, the stock’s consensus target price stands at $951.53.screen-shot-11-17-16-at-01-49-pm