As the end of the June quarter approaches, Wall Street analysts are hustling to raise their financial forecasts and price targets for (AMZN)com to reflect strength in both e-commerce and cloud computing. Note that 40 of the 46 analysts who follow Amazon (ticker: AMZN) have a Buy or Strong Buy rating on the stock, but the average analyst target price is flat with the current stock price. Unless you think the stock is about to be hit by a wave of downgrades, you can expect to see a steady stream of target increases as we get closer to the company’s earnings announcement in July. Read More...
As the end of the June quarter approaches, Wall Street analysts are hustling to raise their financial forecasts and price targets for (AMZN)com to reflect strength in both e-commerce and cloud computing. Note that 40 of the 46 analysts who follow Amazon (ticker: AMZN) have a Buy or Strong Buy rating on the stock, but the average analyst target price is flat with the current stock price. Unless you think the stock is about to be hit by a wave of downgrades, you can expect to see a steady stream of target increases as we get closer to the company’s earnings announcement in July.
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