BofA analyst Justin Post notes that Amazon’s 2023 Prime Day will begin at 3 am ET on July 11 and arrives “at a time when customers are bargain hunting.” The firm estimates 10% year-over-year growth in first-party Prime Day sales and first-party GMV at $6.8B, along with 14% sales growth for third-parties and third-party GMV at $5.2B. The firm, which notes that its 12% year-over-year Prime Day GMV growth estimate translates to $11.95B in total Prime Day GMV and is above its 10% GMV growth rate forecast for Q3, has a Buy rating and $154 price target on Amazon shares.
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