Amazon: Canaccord raises its price target

(CercleFinance.com) - Canaccord Genuity reaffirms its 'buy' recommendation on Amazon while raising its price target from $265 to $280, the day after the online retail and cloud services giant's quarterly results.


The Canadian broker sees it as a 'solid publication for its fourth quarter 2024, with total revenues essentially in line with consensus and operating profit decidedly above expectations'.

Canaccord continues to see Amazon as 'a key growth stock to own, given a stable performance in online commerce, ongoing momentum in advertising and at AWS, as well as ongoing efficiency gains'.

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