Jefferies analyst Brent Thill has maintained their bullish stance on AMZN stock, giving a Buy rating yesterday.
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Brent Thill has given his Buy rating due to a combination of factors including Amazon’s strategic investments and partnerships. Notably, Amazon announced a significant $15 billion investment in Northern Indiana for a new AI and cloud data center campus, which is part of a partnership with NiSource. This investment highlights Amazon’s commitment to expanding its infrastructure and capabilities in the region.
Additionally, the partnership with NiSource as their first GenCo customer is a positive development, emphasizing that existing customers will not bear the financial burden of the new infrastructure. Instead, they are expected to benefit from approximately $1 billion over 15 years. These strategic moves are seen as enhancing Amazon’s growth potential and operational efficiency, justifying the Buy rating.
In another report released yesterday, Rosenblatt Securities also maintained a Buy rating on the stock with a $305.00 price target.