Jefferies analyst Brent Thill has maintained their bullish stance on AMZN stock, giving a Buy rating yesterday.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
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.