Amazon Bull Calls Grow as Wolfe Sees Big Upside for Stock

Amazon's (AMZN) banal has a caller bull, pinch Wolfe Research analysts calling for a astir 30% emergence successful nan shares, driven by nan company's activity position and vulnerability to maturation opportunities.

The analysts gave Amazon an "outperform" standing and a value target of $250, supra Visible Alpha's statement target adjacent $225. The shares edged higher arsenic of 1:45 p.m. ET Tuesday, rising 0.3% from Monday's adjacent of $192.72.

Amazon's banal has gained much than 25% year-to-date, outpacing nan S&P 500 scale alongside immoderate of its Magnificent 7 peers.

Wolfe Analysts Eye AWS, AI

Wolfe's analysts said eyes are connected separator description , Amazon Web Services (AWS) growth, artificial intelligence (AI), and capital expenditures (CapEx).

They highlighted nan company's activity position and differentiated worth proposition successful 3 marketplace opportunities of $1 trillion aliases more: retail, integer advertising, and unreality computing.

They besides said that Project Kuiper, Amazon's outer broadband network, arsenic good arsenic Amazon Business, its firm rank option, correspond maturation opportunities.

Amazon connected Tuesday kicked disconnected its yearly summertime income event, Prime Day, which runs done tomorrow.