Wall Street analyst sets Amazon stock price target for 12 months
Photo: Finbold
On Monday, October 26, UBS analyst Stephen Ju assigned a ‘Buy’ rating to Amazon (NASDAQ: AMZN ) stock , while also increasing his 12-month price target from $318 to $348. According to the note, the decision to forecast a 40.08% upside from $248.43 at press time rather than the previous 28% was largely rooted in the Amazon Web Services (AWS) margin increase expectations. Specifically, the Wall Street analyst explained that strong incremental revenue can outpace operating expense growth, which is needed to offset pressures related to artificial intelligence ( AI ).
Source: Finbold
