Why Amazon Stock Rallied Friday Morning

Shares of Amazon (NASDAQ: AMZN) climbed higher on Friday, adding as much as 3.1%. As of 2:27 p.m. ET, the stock was still up 1.6%.The catalyst that sent the e-commerce and cloud computing titan higher was a bullish take from a Wall Street analyst.JMP Securities analyst Nicholas Jones maintained an outperform (buy) rating on Amazon stock while setting a price target of $265. That represents additional upside potential of 46% compared to Thursday's closing price. The analyst believes Amazon can cut its expenses by more than $20 billion each year by making a few changes to its business.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool