Analyst Brian Nowak from Morgan Stanley maintained a Buy rating on Amazon (AMZN – Research Report) and keeping the price target at $280.00.
Brian Nowak has given his Buy rating due to a combination of factors that highlight Amazon’s potential for sustained growth. One of the key reasons is the introduction of Alexa+, a new AI-powered assistant that integrates with Amazon’s ecosystem and third-party applications. This innovation is expected to enhance user engagement and drive long-term growth, particularly as it is bundled with Amazon Prime, which could significantly increase its adoption among the vast Prime membership base.
Furthermore, Nowak views Amazon as an under-appreciated leader in the retail sector’s AI advancements, with Alexa+ serving as a prime example of how the company could generate more durable and cash-flow positive growth over the coming years. The potential for a 30% upside in Amazon’s stock price, as indicated by the $280 price target, underscores the optimism surrounding the company’s strategic initiatives and technological advancements.
In another report released today, JMP Securities also maintained a Buy rating on the stock with a $285.00 price target.