Cantor Fitzgerald lowered the firm’s price target on Amazon.com (AMZN) to $230 from $270 and keeps an Overweight rating on the shares. The Q1 earnings season for the firm’s internet coverage universe kicks off next week and Cantor tells investors that results are likely to bring “mixed signals” due to growing macro uncertainties, tariff impacts on current and future demand, and consumer pull-in ahead of tariffs. The firm believes a defensive strategy with potential to play idiosyncratic themes is “the right approach to generate alpha” in Q1 earnings season from the internet group, adding that it has factored in a degree of macro slowdown in its Q2 and second half estimates.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMZN:
- Amazon.com price target lowered to $235 from $280 at BMO Capital
- Cathie Wood Finds Silver Lining in Trump’s “Shock Therapy” Tariff Plan
- Alphabet’s Google Faces £5B Class Action Lawsuit in UK Alleging Search Dominance
- Top Wall Street Analysts Slash Amazon (AMZN) Earnings Estimates and Price Targets Ahead of Q1 Results
- Why TSMC’s Stock Dive is a Blessing in Disguise