Loop said Amazon's market cap could triple over the next four to five years.

"We are reiterating our Buy rating on Amazon, introducing a new valuation methodology, and increasing our price target to $2,380 from $2,200 as we add senior Internet analyst Rob Sanderson to the research coverage team. This is in conjunction with today's broader Internet coverage introduction, including each of the US-based "FANG" and China-based "BAT" stocks. There is no change to our positive view on Amazon, which is the simultaneous leader of two of the largest secular growth opportunities available to investors today. Our new price target is based on our view of Amazon's 2025 earnings power discounted back to the present. Despite a valuation that already places Amazon among the world's most valuable companies, our view of Amaon's earnings power suggests the company's market cap could still triple over the next four to five years."