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Cramer's favorite stock of earnings season so far gets new props from analysts

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Earnings,Amazon.Com Inc,Retail Industry

Amazon is getting the recognition it deserves on Wall Street after a great quarter.

The news Morgan Stanley raised its Amazon price target Monday to $230 per share from $210 — implying 16% upside to Friday's close. The analysts cited the company's continued strides in lowering costs throughout its retail business. After Amazon reported beats last week on third-quarter earnings before taxes and interest and its Q4 guide, Morgan Stanley analysts raised EBIT expectations for the e-commerce and cloud giant by 10% to $84 billion next year and by 6% to $102.5 billion in 2026.

Davidson analysts said Amazon, which they rate as a buy, is one of the hyperscalers poised to see the most return on investment from its AI-driven build-out. That's because, for the first time since AI started booming, Amazon has "now retaken the lead" in outpacing competitors in AI spending growth by redirecting capital from retail to AWS, the analysts wrote.

 

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Källa: AP - 🏆 728. / 51 Läs mer »

Stock market today: Amazon leads Wall Street higherAmazon led U.S. stock indexes higher, while a surprisingly weak jobs report marred by some unusual occurrences cemented bets on Wall Street for another cut to interest rates next week.
Källa: latimes - 🏆 11. / 82 Läs mer »