Amazon's AI-Driven AWS Growth To Power Outperformance: Analysts
Portfolio Pulse from Lekha Gupta
Analysts from Scotiabank and JP Morgan are optimistic about Amazon's future, particularly due to AWS's AI-driven growth. Scotiabank initiated coverage with a 'Sector Outperform' rating and a $245 price target, citing AWS's potential to exceed revenue estimates beyond 2025. JP Morgan also highlights AWS's growth and operational discipline, projecting significant operating income and free cash flow in the coming years.
October 11, 2024 | 6:59 pm
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Scotiabank and JP Morgan analysts are optimistic about Amazon's future, driven by AWS's AI growth. Scotiabank rates Amazon 'Sector Outperform' with a $245 price target, expecting AWS to exceed revenue estimates beyond 2025. JP Morgan projects strong operating income and free cash flow, highlighting AWS's growth and operational discipline.
The positive analyst ratings and projections for AWS's growth and Amazon's operational improvements suggest a likely increase in AMZN's stock price. Scotiabank's 'Sector Outperform' rating and $245 price target indicate strong confidence in Amazon's future performance, particularly due to AWS's AI-driven growth. JP Morgan's projections of significant operating income and free cash flow further support this positive outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100