Amazon: Canaccord Genuity raises target price

(CercleFinance.com) - Canaccord Genuity announced on Thursday that it is raising its target price for Amazon shares from $230 to $265 (cp: $223, +1.
3%), while maintaining its Buy recommendation on them.

In a study on Internet stocks, the Canadian broker says that 2024 was a banner year for the sector, with an average gain of around 40% on the stock market.

Looking ahead to 2025, the broker explains that it prefers market leaders amongst large-cap stocks, a category which it believes includes Amazon.

We believe Amazon remains well positioned given consumers' price sensitivity and the way the company keeps finding ways to improve the attractiveness of its Prime offer, it explains.


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