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Analysts are bullish on Amazon's growth story ahead of its earnings

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Several of Wall Street's biggest firms are confident in the company's cloud-computing services growth, as well as its generative AI investments.

Investors are staying bullish ahead of Amazon's quarterly report Thursday as the company's cloud and consumer-focused businesses show signs of strength. The company's recent " Prime Big Deal Days ," a fall follow-up to its main Prime Day held in July, outpaced last year's event, according to Worldwide Amazon Stores CEO Doug Harrington. The company has also invested heavily in AI to become one of the leaders in the artificial intelligence race.

" Citi maintains buy rating Citi expects the company's operating income and revenue to come at least in-line with consensus estimates, if not better than expected. The firm kept its buy rating and $167 price target on shares, which implies 37.5% upside potential from Wednesday's close. Analyst Ronald Josey said the company remains one of its top picks in the internet sector.

 

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