AMZN - Amazon Stock Is Hitting New All-Time Highs Wednesday: What's Going On? | Benzinga
Amazon.com Inc (NASDAQ:AMZN) stock is hitting new all-time highs on Wednesday amid multiple developments. Here’s a look at what’s going on.
What To Know: Amazon shares got a lift Wednesday morning after BofA Securities analyst Justin Post maintained a Buy rating and raised the price target from $210 to $220, citing further efficiency gains ahead for the e-commerce giant.
Post noted that Amazon made dramatic improvements in efficiency in 2023, but despite the “significant” efficiency bump last year, all five logistics utilization metrics that BofA tracks remain below 2018 levels.
Given that CEO Andy Jassy has said that efficiency can ...