What's In The Cards For Amazon In Q1? Analyst Sees Double-Digit Sales And Profit Growth
Portfolio Pulse from Nabaparna Bhattacharya
Telsey Advisory Group analyst Joseph Feldman maintains an Outperform rating on Amazon (NASDAQ:AMZN) with a price target of $200, anticipating double-digit sales and profit growth in Q1 2024. Feldman projects a 12.4% sales increase to $143.2 billion and operating income of $11.1 billion, driven by online spending, AWS growth, and high-margin categories like advertising and media. Despite a current 2.66% drop in AMZN shares to $171.90, the outlook is positive due to market share gains, a redesigned distribution network, and solid expense control.
April 25, 2024 | 5:27 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Amazon is expected to see significant sales and profit growth in Q1 2024, with a projected sales increase to $143.2 billion and operating income of $11.1 billion, according to Telsey Advisory Group analyst Joseph Feldman.
The positive outlook for Amazon is based on continued double-digit growth in sales and profits, driven by the strength of online spending, the growth of AWS, and high-margin categories like advertising and media. The analyst's projections of sales and operating income exceeding consensus estimates, along with strategic initiatives for market share gains and cost savings, suggest a strong short-term upside potential for AMZN shares.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100