Amazon Shares Rise Following Phillip Securities Upgrade to Buy
Amazon (AMZN) shares closed up 2.20% at $245.63, rebounding after a recent dip following its earnings report. The rally was driven by an upgrade from Phillip Securities, where analyst Helena Wang raised the stock's price target to $330 per share and increased fiscal 2027 revenue estimates. The upgrade highlights strong momentum in Amazon Web Services (AWS), which reported a 39% year-over-year sales increase to $46 billion. Despite initial investor concerns regarding high AI-related capital expenditures, the surge in cloud operating income—up 61%—and growing demand for AWS infrastructure appear to be driving renewed investor confidence.
Topics: Cloud Computing E-commerce Price Target Increase Stock Upgrade
Read the full article at Motley Fool
Part of the story Franklin Electric Shares Rise 5% Following Analyst Upgrade to Buy (7 articles)