tiprankstipranks

Amazon.com price target raised to $280 from $260 at Wedbush

Wedbush raised the firm’s price target on Amazon.com (AMZN) to $280 from $260 and keeps an Outperform rating on the shares ahead of the Q4 report on February 6. The firm is constructive on the share setup ahead of the report, citing a “strong” holiday in the U.S. and Amazon’s continued efficiency gains within its core retail business. This should drive upside to margin expectations despite near-term currency headwinds, the analyst tells investors in a research note. Wedbush increased its Q4 operating income estimate to $20.7B from $19.9B, which is is 9% ahead of the Street. Amazon is positioned to outperform expectations again in 2025, contends Wedbush. The firm thinks investors are “overly conservative” on Amazon’s 2025 margin potential.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Disclaimer & DisclosureReport an Issue