After Amazon (AMZN) beta launched its well-anticipated discount storefront, Amazon Haul, on its mobile app, BofA analyst Justin Post notes that the new storefront features competitive prices to PDD Holdings’ (PDD) Temu and Shein on 35-plus categories with items priced below $20. Investors’ concerns on share loss to Chinese sites have somewhat abated as Temu’s growth has slowed, and potential tariffs could impact competitive trends further, but the firm still thinks establishing Haul with third-party sellers is “a low-risk initiative, ensuring Amazon has a competitive offering with limited financial investment.” BofA maintains a Buy rating and $230 price target on Amazon shares.
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