Bank of America Securities analyst Justin Post has maintained their bullish stance on AMZN stock, giving a Buy rating yesterday.
Meet Samuel – Your Personal Investing Prophet
200% short exposure to AMZN with AMZOJustin Post has given his Buy rating due to a combination of factors, including Amazon’s strategic acquisition of Globalstar to enhance its low-earth-orbit (LEO) satellite capabilities and future device-to-device connectivity. He views the $11.6 billion deal, expected to close in 2027, as a way to broaden Amazon’s next-generation D2D network starting in 2028 and to better compete with Starlink Mobile, even though Globalstar’s near-term revenues remain modest.
He also highlights the extended partnership with Apple, which secures Globalstar’s role in powering satellite features on iPhone and Apple Watch and adds Apple to a growing roster of high-profile LEO customers such as Delta and JetBlue. While acknowledging near-term losses from Project Leo’s buildout, Post expects technical milestones and capitalized costs in the second half of 2026, underpinning a substantial long-term revenue opportunity that supports his Buy rating and a $275 price objective.
In another report released yesterday, Bernstein also maintained a Buy rating on the stock with a $265.00 price target.