Eric Sheridan, an analyst from Goldman Sachs, reiterated the Buy rating on Amazon. The associated price target remains the same with $290.00.
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Eric Sheridan has given his Buy rating due to a combination of factors related to Amazon’s strategic positioning and growth potential. The recent AWS re:Invent conference highlighted Amazon’s focus on leveraging its past achievements in cloud migration while also embracing future opportunities in artificial intelligence. This dual approach is expected to enhance AWS’s operational efficiency and expand its product offerings, particularly through partnerships with companies like Nvidia and the development of custom silicon.
Moreover, the rise of AI agents is anticipated to transform enterprise computing, with Amazon Bedrock playing a crucial role in providing access to a diverse range of AI models. The positive investor sentiment following these developments, coupled with Amazon’s recent earnings report, suggests a strong potential for revenue growth and a significant role for AWS as AI becomes more prevalent. These strategic initiatives underscore Amazon’s capacity to capitalize on the evolving AI landscape, justifying the Buy rating.
AMZN’s price has also changed moderately for the past six months – from $207.910 to $229.530, which is a 10.40% increase.