NEW YORK (AP) -- Amazon.com Inc. shares rose Monday after a Goldman Sachs analyst added the stock to the "Americas Conviction Buy" list and raised his price target, predicting the Web retailer can sustain 20 percent or more revenue growth in the next five to 10 years.

Amazon shares rose $5.83, or 7.6 percent, to $82.29. In the past year, the stock has traded between $61.20 and $101.09.

In a client note, analyst James Mitchell assumed coverage of the stock, raising his six-month price target to $98 from $75.

The analyst cited various factors -- including Amazon's expansion strategy, mobile plans, membership-based two-day shipping program and Kindle wireless e-reader device -- that lead him to think the company can keep up revenue growth.

Mitchell also said that while economic troubles in the U.S. and Europe could hurt Amazon, a prolonged recession could help the company by discouraging small peers from building out comparable fulfillment capabilities and by leading some consumers to eschew weakened bricks-and-mortar stores in favor of online shopping.

The analyst also noted that the company has underperformed the S&P 500 in the past six months, which he attributed to slight declines in gross margins.

"We believe that this period of poor performance renders Amazon stock attractive, especially as we view Amazon as executing on-plan despite gross margin trends," he said.