Is Amazon Stock Going to $265? 1 Wall Street Analyst Thinks So.

On Monday, Truist analyst Youssef Squali reiterated his buy rating on tech juggernaut Amazon (NASDAQ: AMZN), raising his price target from $230 to $265. That target implies 43% price appreciation over the next 12 months.Based on Truist card data tied to Amazon's U.S. revenue, Squali thinks the company is on track to meet or exceed sales guidance for the third quarter. With analysts expecting 10% revenue growth in the upcoming quarter, Amazon's ability to maintain double-digit sales growth would be reassuring following a handful of quarters with single-digit growth over the last few years.Noting a more resilient consumer, growing ad revenue, faster growth at Amazon Web Services, and improved operating margins, Squali reiterated his bullishness, explaining, "This (occurs) even as the company invests aggressively in AI, Amazon Web Services (AWS), logistics, and Project Kuiper."Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool