(News Bulletin 247) – Wedbush adds Amazon to its list of best ideas, with an ‘outperform’ opinion and a price target of $180, believing that the context for the group is ‘beginning to strengthen with the improvement or stabilization growth’ in its sectors of activity.
According to the broker, its core business is now well positioned, with an industry-leading order processing infrastructure, and amid improving online commerce as the centuries-old shift to e-commerce resumes.
“Furthermore, AWS’ growth has stabilized and is poised to reaccelerate in the second half of 2023 and into 2024, in addition to a backdrop that should support the continued growth of the group’s high-margin advertising business. ‘, adds Wedbush.
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