Amazon's Bullish Outlook Supported by Strong E-commerce Demand and Cost Optimization, Analyst Predicts $131.3B in Total Revenue
Portfolio Pulse from Anusuya Lahiri
Truist analyst Youssef Squali reiterated a Buy rating on Amazon (NASDAQ:AMZN) with a price target of $144.00. Squali remains bullish on AMZN due to strong North American e-commerce demand and cost optimization. He expects AMZN to report total revenue of $131.3 billion, North American revenue of $80.3 billion, and AWS revenue growth of 10% Y/Y (to $21.8 billion). He also expects an operating income of $5.1 billion (3.8% margin).
July 21, 2023 | 6:46 pm
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Truist analyst Youssef Squali reiterated a Buy rating on Amazon (NASDAQ:AMZN) with a price target of $144.00. He expects strong e-commerce demand and cost optimization to drive revenue and operating income growth.
The analyst's bullish outlook on Amazon is based on strong e-commerce demand and cost optimization. He expects these factors to drive revenue and operating income growth, which could positively impact the stock price in the short term.
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