Amazon: shares jump as broker raises TP
(CercleFinance.com) - Amazon shares closed up over 6% on the Nasdaq on Friday, as Jefferies confirmed its "buy" recommendation on the stock in the early afternoon, with a target price raised from $225 to $235, on the heels of a publication marked by a new EBIT margin record, thanks to AWS (38.
1%) and International (3.6%).
The broker also highlighted the technology group's EBIT forecast of $16bn to $20bn for Q4 2024, which was generally higher than investors' expectations of $16.5bn to $17bn.
AWS' revenue growth, which rose just 40bp, to 19.1%, was slightly disappointing, although management noted that the offering was constrained and that growth could improve over time, Jefferies adds.
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1%) and International (3.6%).
The broker also highlighted the technology group's EBIT forecast of $16bn to $20bn for Q4 2024, which was generally higher than investors' expectations of $16.5bn to $17bn.
AWS' revenue growth, which rose just 40bp, to 19.1%, was slightly disappointing, although management noted that the offering was constrained and that growth could improve over time, Jefferies adds.
Copyright (c) 2024 CercleFinance.com. All rights reserved.