Amazon is gaining on FlipKart in India

AMAZON (AMZN) price-target reiterated at $195 at Evercore, citing that Amazon is gaining on FlipKart in India:

"Today we hosted an Expert Panel on Amazon’s opportunity and competitive position in India vs. Flipkart, with two expert speakers – Vikas Gupta (former Chief Customer and Marketing Officer at Flipkart), and Sandeep Aggarwal (founder of two E-Comm unicorns in India, Droom and ShopClues). We came away incrementally more constructive on Amazon’s competitive position in India – while Flipkart remains a formidable competitor, Amazon appears to be gaining an edge given its broad selection, superior fulfillment capabilities, a rich ecosystem of Prime services, and strong appeal to the younger/more affluent demographics.

That said, we have yet to see clear signs of Amazon’s Retail business in India closing the gap on profitability, though we believe there remains a distinct path to profitability as the business scales over time."