Amazon: Canaccord raises target price

(CercleFinance.com) - Canaccord Genuity confirms its 'buy' recommendation on Amazon shares, while raising its target price for them 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 Amazon's Q4 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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