Reported about 1 year ago
Bank of America Securities increased its price target for Amazon shares to $220 from $210, maintaining a buy rating. Analysts noted Amazon's logistics improvement, projecting 9 billion shipments worldwide in 2024 and Amazon becoming the largest U.S. shipper. Despite some metrics impacted by inflation, analysts see further efficiency gains ahead, driving higher retail margins. The firm believes Amazon could achieve more retail margin upside in 2024, with CEO Andy Jassy aiming to surpass 2018 efficiency levels.
Source: YAHOO