TECH - Amazon To Continue Winning Streak Analyst Predicts Revenue Surge Amid Booming AWS and Retail Sales | Benzinga
Truist analyst Youssef Squali reiterated a Buy rating on Amazon.Com Inc (NASDAQ:AMZN) with a price target of $195.
Based on his tracking of a proxy for U.S. revenue growth and overall positive market trends, the analyst remained constructive on Amazon with two weeks to go in the quarter.
Squali’s Truist Card Data shows that U.S. revenue is tracking ahead of the consensus of $85.0 billion and closer to $87.0 billion (+13% year-on-year), driven by improving M/M demand trends in February and so far in March.
Amid a resilient economy, he noted Amazon continues to gain share, enhancing its value proposition and launching its first-ever U.S. Big Spring Sale this week, a six-day sales event with deep discounts, which should drive incremental demand and ...