Amazon (AMZN) Gets $225 Target From Bank of America: Here’s Why
Since early April, the US stock market has certainly struggled. That hadn’t changed to start this week, as Monday saw the Wall Street sell-off continue. Yet, that hasn’t stopped analysts from expecting things to turn around in the medium term. Subsequently, Amazon (AMZN) has gotten a new $275 price target from Bank of America.
The e-commerce juggernaut has long been one of the most promising tech stocks to buy. However, its appeal has certainly lessened amid the state of the stock market currently. Still, its fundamentals and potential in key areas may be enough to fuel the stock amid an uncertain future.
Also Read: Magnificent 7: These Two Stocks Are Best Bargain Buys in April
Amazon Gets New Price Target: What to Expect From Shares Amid Struggling Market
The state of the stock market continued to be concerning after it opened from a three-day weekend on Monday. Specifically, the Dow Jones Industrial Index dropped another 1,200 points to start the week. Meanwhile, the Nasdaq and S&P 500 both plummeted yet again.
With a US-China trade war on the horizon and a fragile economy eyeing a recession this year, things have become increasingly worrisome. However, that hasn’t stopped some optimism for one of the biggest companies in the world. Indeed, Amazon (AMZN) has gotten a $225 target from Bank of America in a recent update.
Also Read: Amazon (AMZN): How Prime Could Send Shares Soaring in 2025?
Shares of Amazon dropped almost 4% on Monday, continuing a 15% drop over the last 30 days. Subsequently, it trades at $165, with the recent target giving it less than 50% upside. According to the bank, it has experienced performance issues relative to competitors Walmart (WMT) and Microsoft (MSFT).
However, they also noted that the company has strong fundamentals currently. Specifically, it is sporting a revenue growth of more than 11%. Moreover, it has shown strong prospects in AI growth, with its Amazon Web Services (AWS) cloud computing business still thriving.
Currently, Amazon shares have a median price target of $260, showing the bank is more bearish on the company than its peers. However, it has a low-end projection of $200 for the next 12 months, which is still up 20% from its current position. Yet, it would represent a severe underperformance of the share relative to the company’s output and potential.
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Amazon (AMZN) Gets $225 Target From Bank of America: Here’s Why
Since early April, the US stock market has certainly struggled. That hadn’t changed to start this week, as Monday saw the Wall Street sell-off continue. Yet, that hasn’t stopped analysts from expecting things to turn around in the medium term. Subsequently, Amazon (AMZN) has gotten a new $275 price target from Bank of America.
The e-commerce juggernaut has long been one of the most promising tech stocks to buy. However, its appeal has certainly lessened amid the state of the stock market currently. Still, its fundamentals and potential in key areas may be enough to fuel the stock amid an uncertain future.
Also Read: Magnificent 7: These Two Stocks Are Best Bargain Buys in April
Amazon Gets New Price Target: What to Expect From Shares Amid Struggling Market
The state of the stock market continued to be concerning after it opened from a three-day weekend on Monday. Specifically, the Dow Jones Industrial Index dropped another 1,200 points to start the week. Meanwhile, the Nasdaq and S&P 500 both plummeted yet again.
With a US-China trade war on the horizon and a fragile economy eyeing a recession this year, things have become increasingly worrisome. However, that hasn’t stopped some optimism for one of the biggest companies in the world. Indeed, Amazon (AMZN) has gotten a $225 target from Bank of America in a recent update.
Also Read: Amazon (AMZN): How Prime Could Send Shares Soaring in 2025?
Shares of Amazon dropped almost 4% on Monday, continuing a 15% drop over the last 30 days. Subsequently, it trades at $165, with the recent target giving it less than 50% upside. According to the bank, it has experienced performance issues relative to competitors Walmart (WMT) and Microsoft (MSFT).
However, they also noted that the company has strong fundamentals currently. Specifically, it is sporting a revenue growth of more than 11%. Moreover, it has shown strong prospects in AI growth, with its Amazon Web Services (AWS) cloud computing business still thriving.
Currently, Amazon shares have a median price target of $260, showing the bank is more bearish on the company than its peers. However, it has a low-end projection of $200 for the next 12 months, which is still up 20% from its current position. Yet, it would represent a severe underperformance of the share relative to the company’s output and potential.
Read More