Shares of Amazon.com Inc. surged 5.5% into record territory in premarket trading Friday, as a herd of Wall Street analysts cheered the e-commerce and cloud giant's blow out second-quarter results. No less than 27 analysts surveyed by FactSet have raised their stock price targets, with JMP Securities's Ronald Josey now the most bullish with a price target of $4,075. There are now six analysts with stock price targets of at least $4,000; at that price, Amazon's market capitalization would be $2.00 trillion. The average price target is now at $3,464.25, which is 13.5% above Thursday's closing price of $3,051.88. The average target has increased by 23.6% since the end of June. Amazon's stock has run up 10.6% in July through Thursday, while the S&P 500 has gained 4.7%. Read More...
Shares of Amazon.com Inc. surged 5.5% into record territory in premarket trading Friday, as a herd of Wall Street analysts cheered the e-commerce and cloud giant’s blow out second-quarter results. No less than 27 analysts surveyed by FactSet have raised their stock price targets, with JMP Securities’s Ronald Josey now the most bullish with a price target of $4,075. There are now six analysts with stock price targets of at least $4,000; at that price, Amazon’s market capitalization would be $2.00 trillion. The average price target is now at $3,464.25, which is 13.5% above Thursday’s closing price of $3,051.88. The average target has increased by 23.6% since the end of June. Amazon’s stock has run up 10.6% in July through Thursday, while the S&P 500 has gained 4.7%.
Read More
Add Comment