BofA raised the firm’s price target on Amazon.com (AMZN) to $298 from $275 and keeps a Buy rating on the shares. Ahead of the company’s Q1 report due on April 29, the firm now estimates revenue and EBIT of $178.4B and $21.4B, above the Street at $177.1B and $20.7B, respectively, the analyst tells investors in a preview. The firm is raising its year-over-year AWS growth estimate to 28%, above the Street at 25%, but believes expectations could be as high as 29%, the analyst added.
Claim 55% Off TipRanks
Forget margin or options. Here's how the pros trade AMZNPublished first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMZN:
- Morgan Stanley Weighs In on Amazon Stock (AMZN) Following Globalstar Acquisition
- How Uber’s New Feature Makes Returns as Easy as Ordering Food
- Amazon Stock (AMZN) Will Outperform the Magnificent 7, Says Barclays
- IonQ (IONQ) Sets May 6 Earnings Date as Insider Sale Follows Preplanned Path
- Tesla (TSLA) Expands Robotaxi Service Ahead of Earnings as AI Strategy Faces Test