In a research note dated April 4, BMO Capital Markets analyst Daniel Salmon reiterated his Outperform rating on Amazon stock and boosted his price target from $900 all the way up to $1,200. He also declared the stock his "new top pick" and proclaimed that the company's online ad business has picked up so much momentum that he now sees a "triumvirate" of Amazon, Google and Facebook rather than the "duopoly" he saw before.