Amazon's AWS business remains generally bullish by analysts.

(Reuters)

[Financial Channel/Comprehensive Report] Although the recent performance of Amazon's cloud computing business AWS is worrisome, analysts are still generally optimistic and believe that the AWS business has great value, so they maintain Amazon's "outperform the market" rating, with a target price of $130 per share.

According to comprehensive media reports, Oppenheimer analyst Jason Helfstein released a report on Friday (13th) stating that due to the unstable economic outlook, AWS has lowered its revenue forecasts for the fourth quarter of last year and 2023 by 1% and 3%, respectively. He is still optimistic about AWS's important global leadership position, so he maintains an "outperform" rating and a target price of $130 per share.

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Mizuho analyst James Lee also rated the stock as a buy on Thursday (12th) with a target price of $135.

James Lee believes that Amazon’s recent layoffs and optimization of shipping costs will help the stock price. Not only that, Bank of America Securities analyst Justin Prost also rated Amazon. Among the 53 analysts surveyed by FactSet, 49 maintained buy In, 3 hold, only 1 sell.

Amazon's stock price rose $2.85, or 2.99%, to close at $98.12 on Friday (13th).

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