In a report released yesterday, Maria Ripps from Canaccord Genuity maintained a Buy rating on Amazon (AMZN – Research Report), with a price target of $280.00.
Maria Ripps’s rating is based on Amazon’s strong performance in the first quarter, where both revenue and profitability exceeded expectations. The company’s online stores saw mid-single-digit growth, with certain verticals experiencing increased consumer demand. This growth is supported by stable retail prices and improvements in inventory management and fulfillment networks, leading to a record number of same or next-day deliveries.
Additionally, Amazon Web Services (AWS) demonstrated high-teens growth despite supply constraints, with expectations for capacity improvements in the near future. Advertising revenue also showed robust growth, indicating broad-based strength. Despite some concerns about operating income guidance due to elevated expenses, Amazon’s diverse product selection and global seller base position it well to handle potential challenges, reinforcing its status as a core growth holding.
In another report released today, Barclays also maintained a Buy rating on the stock with a $240.00 price target.