Monness analyst Brian White has maintained their bullish stance on AMZN stock, giving a Buy rating today.
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Brian White has given his Buy rating due to a combination of factors that highlight Amazon’s strong performance and growth potential. Amazon’s third-quarter results exceeded expectations, with sales and earnings per share surpassing both the firm’s and the market’s estimates. This robust performance was driven by Amazon Web Services (AWS), which showed a significant acceleration in revenue growth, indicating its competitive position in the cloud computing sector.
Furthermore, Amazon’s international and North American markets demonstrated healthy growth, contributing to the company’s overall positive outlook. The company’s diverse revenue streams, including online and physical stores, third-party seller services, subscription services, and advertising services, also showed impressive growth. These factors, coupled with a positive future outlook and raised estimates for the upcoming quarters, underpin Brian White’s confidence in Amazon’s continued success, leading to the Buy rating.
In another report released today, Wells Fargo also maintained a Buy rating on the stock with a $292.00 price target.