Brian White, an analyst from Monness, maintained the Buy rating on Amazon. The associated price target remains the same with $265.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Brian White’s rating is based on Amazon’s strategic initiatives and growth potential in the cloud computing and AI sectors. The company is poised to benefit from its AWS Summit in New York City, where it plans to showcase advancements in generative AI, particularly agentic AI. This focus on AI innovation is expected to strengthen Amazon’s position in the market.
Additionally, Amazon’s efforts in expanding its digital advertising business and optimizing its regional fulfillment network are seen as positive moves towards enhancing operational efficiency. Despite some regulatory challenges and a challenging macroeconomic environment, these strategic initiatives are likely to drive Amazon’s growth, justifying the Buy rating.
White covers the Technology sector, focusing on stocks such as Apple, Salesforce, and Datadog. According to TipRanks, White has an average return of 17.5% and a 68.11% success rate on recommended stocks.
In another report released on July 11, Piper Sandler also assigned a Buy rating to the stock with a $250.00 price target.