Every Analyst on Wall Street is Loving Amazon’s Earnings Results

amazon-amzn-logoWall Street analysts are out in force this morning, lining up to pile bullish praise on Amazon following its latest earnings report.

AMZN Price Targets Surging Across the Board

Here’s a quick look at the price target increases analysts have announced between yesterday and today:

  • UBS – Target raised from $785 to $900
  • Pacific Crest – Target raised from $820 to $847
  • Deutsche Bank – Target raised from $900 to $985
  • Citigroup – Target raised from $780 to $870
  • Piper Jaffray – Target raised from $800 to $900
  • JPMorgan Chase – Target raised from $900 to $925
  • Raymond James – Target raised from $770 to $900
  • Axiom Capital – Target raised from $853 to $877
  • Jefferies & Co. – Target raised to $950
  • JMP Securities – Target raised from $775 to $840
  • Mizuho Securities – Target raised from $810 to $855
  • Cowen & Company – Target raised to $900

The most bullish target of $985, courtesy of Deutsche Bank, suggests a nearly 31% upside to Amazon’s Thursday closing price of $752.61. The least bullish target we’ve seen, from Pacific Crest, still suggests a meaty 12.5% upside.

Amazon’s earnings yesterday came in above estimates, with the most impressive growth seen in its AWS segment. The impressive report is clearly having a big effect on Wall Street analysts, who seemingly can’t lift their targets for the stock fast enough.

Amazon.com, Inc.(NASDAQ:AMZN) shares rose $6.73 (+0.89%) to $759.34 in Friday morning trading. The stock has now gained 12.4% year-to-date.

AMZN-2016-07-29

You are viewing an abbreviated republication of ETF Daily News content. You can find full ETF Daily News articles on (www.etfdailynews.com)

Powered by WPeMatico