Amazon Set for Another Upside Quarter, Analyst Highlights Potential of Prime Video and Steady AWS Growth
Portfolio Pulse from Anusuya Lahiri
Benchmark analyst Daniel L. Kurnos maintains a Buy rating on Amazon (NASDAQ:AMZN) and raises the price target from $170 to $175, anticipating a strong fourth quarter for fiscal 2023. Kurnos highlights the potential of Prime Video Ads and expects steady growth in AWS, projecting revenue and EPS slightly below consensus. Amazon's retail segment is expected to show healthy margin expansion and share gains, with AWS potentially benefiting from generative AI cloud costs.
January 22, 2024 | 7:04 pm
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Benchmark analyst Daniel L. Kurnos is optimistic about Amazon's Q4 performance, raising the price target to $175 and maintaining a Buy rating. He expects solid e-commerce growth, healthy margin expansion, and potential benefits from Prime Video Ads and AWS, particularly with generative AI.
The analyst's positive outlook and raised price target suggest confidence in Amazon's upcoming earnings report. The focus on Prime Video Ads and AWS growth, along with expected margin expansion in retail, could lead to a positive short-term impact on AMZN's stock price. The analyst's projections being slightly below consensus may temper expectations, but the overall tone remains bullish.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100