Amazon: Jefferies raises target price
(CercleFinance.com) - Jefferies maintains its 'buy' recommendation on Amazon shares, raising its target price from $225 to $235, on the heels of a publication marked by a new record EBIT margin, thanks to AWS (38.
1%) and International (3.6%).
The broker also highlights an EBIT forecast of $16bn to $20bn provided by the tech group for Q4 2024, overall higher than investors' expectations of $16.5bn to $17bn.
The acceleration of AWS revenue growth by just 40 basis points, to 19.1%, was slightly disappointing, but management noted that the offering was constrained and that growth could improve over time, Jefferies adds.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
1%) and International (3.6%).
The broker also highlights an EBIT forecast of $16bn to $20bn provided by the tech group for Q4 2024, overall higher than investors' expectations of $16.5bn to $17bn.
The acceleration of AWS revenue growth by just 40 basis points, to 19.1%, was slightly disappointing, but management noted that the offering was constrained and that growth could improve over time, Jefferies adds.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.