BofA analyst Justin Post raised the firm’s price target on Amazon.com to $154 from $139 and keeps a Buy rating on the shares. The firm, which says it was “encouraged” by recent CEO commentary that retail margins could improve beyond pre-pandemic levels, expects profit estimates to “move in the right direction.” Since the February bottom, 2024 operating income is up just 3% and while expectations have moved higher, the firm thinks margin upside can still drive outperformance, leading it to raise its sum-of-parts-based target on Amazon shares.
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