Trending: Could one city fly, fly away with Amazon’s HQ2 prize? Here’s who has edge on flights from Seattle

Amazon’s stock hit an all-time high today, closing at $268.43 per share, after a Wall Street analyst upgraded the company’s stock, saying that investors have been underestimating Amazon’s global network of distribution centers.

The upgrade was notable in part because the analyst, Morgan Stanley’s Scott Devitt, had downgraded the company’s shares last February.

In his note today, Devitt called the company’s fulfillment network an “underappreciated, strategic asset.”

“Our conviction to upgrade is based on the international opportunity, but it is supported by the disparity between and other online / offline competitors’ fulfillment assets,” he wrote, according to Barron’s Tech Trader Daily, adding later: “ appears to be redefining the fulfillment learning curve as it grows, and this may likely leadto sustainable barriers to any other global entrant.”

On the, pundit Jim Cramer today called Bezos the “Sam Walton of our time.”

Like what you're reading? Subscribe to GeekWire's free newsletters to catch every headline


Job Listings on GeekWork

Find more jobs on GeekWork. Employers, post a job here.