Shyam Patil, an analyst from Susquehanna, maintained the Buy rating on Amazon. The associated price target was raised to $260.00.
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Shyam Patil has given his Buy rating due to a combination of factors that highlight Amazon’s robust performance and potential for growth. Despite some challenges, such as capacity constraints affecting AWS and seasonal effects, Amazon’s second-quarter results were generally strong. The company’s top-line outlook for the third quarter appears stable, which supports a positive view on the stock.
Moreover, Shyam Patil has set a price target of $260, reflecting confidence in Amazon’s ability to overcome current obstacles and deliver value to shareholders. While there is a noted downside risk, the overall sentiment remains optimistic, suggesting that the potential benefits outweigh the risks. This assessment underscores the belief in Amazon’s long-term growth prospects and its position as a leader in the market.
In another report released today, D.A. Davidson also maintained a Buy rating on the stock with a $265.00 price target.