Amazon shares are trading higher after Wells Fargo initiated coverage on the stock with an Overweight rating and announced a $159 price target.
Portfolio Pulse from Benzinga Newsdesk
Amazon shares are trading higher after Wells Fargo initiated coverage on the stock with an Overweight rating and a $159 price target.

June 08, 2023 | 3:13 pm
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POSITIVE IMPACT
Wells Fargo initiated coverage on Amazon with an Overweight rating and a $159 price target, leading to higher trading.
Wells Fargo's initiation of coverage with an Overweight rating and a $159 price target is a positive signal for Amazon's stock. This endorsement from a major financial institution is likely to increase investor confidence and demand for the stock, leading to a short-term increase in its price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100