Amazon.com Inc. (AMZN)
Analyst Updates
Citigroup analyst, Ronald Josey cut the 12 month price target on Amazon’s stock to $265 from $320, and maintained the “Buy” rating on the stock. The valuation adjustment conveys a more conservative near-term outlook, reflecting tempered expectations for margin expansion and revenue growth amid a volatile macroeconomic backdrop and heightened scrutiny on large-cap technology valuations. The update reflects concerns around consumer demand normalization in e-commerce, incremental cost pressures tied to logistics and fulfillment, and more measured growth expectations for Amazon Web Services as enterprise customers continue to optimize cloud spending. Overall, the update signals that while near-term valuation expectations have been reset to reflect a more cautious operating environment, Citigroup continues to view Amazon as a high-quality compounder with attractive upside potential over a multi-year horizon.
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