Following a deep dive into the company’s advertising business, Jefferies analyst Brent Thill raised his price target for Amazon.com (AMZN) shares to $1,850 from $1,750. The stock closed yesterday up $19.50 to $1,589.39. Amazon’s ad segment should grow annually at 43% to $22B by 2022, Thill tells investors in a research note. Amazon is aggressively growing its advertising business, but not at the expense of Facebook (FB) and Google (GOOG, GOOGL), the analyst contends. He says Amazon’s “billions of touch points with consumers and end of funnel sales conversion are an advertiser’s dream for targeting and attribution.” Thill thinks the “right pieces are in place” for Amazon to get to $1 trillion in market capitalization over time. He keeps a Buy rating on Amazon shares.