(News Bulletin 247) – Wells Fargo began monitoring the Amazon stock on Thursday with an ‘overweight’ advice and a price target of $159, making the stock its preferred stock (‘top pick’) among the big players from the Internet.
In a sector note, which also sees him initiate coverage of securities such as eBay, Lyft or Airbnb, the analyst estimates that he expects Amazon’s North American distribution activity to return to its 2019 profit margins as soon as possible. 2025, i.e. one year ahead of the consensus timetable.
The intermediary also says he has remembered the recent remarks of Andy Jassy, ​​the group’s general manager, according to whom the switch from logistics overseen at the national level to a network of regional dimension is already giving convincing results.
Finally, Wells Fargo explains that it expects AWS, the cloud branch of the company, to experience an inflection point in August to end the year with a growth rate of 15%.
Apart from Amazon, Wells Fargo is also starting to track Uber with an ‘overweight’ recommendation and Alphabet and Meta with an ‘overweight’ advice.
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