Needham analyst Laura Martin reiterated Amazon.com Inc (NASDAQ:AMZN) with a Buy rating and a $205 price target.
The analyst raised her fiscal 2024 profit estimates for AMZN, based on CEO Andy Jassy’s shareholder letter promising more cost-cutting at AMZN’s inbound fulfillment architecture and inventory placement during fiscal 2024.
She also expects fiscal 2023’s cost-cutting actions to drive margin expansion throughout fiscal 2024.
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For the first quarter of 2024, Martin maintained her revenue estimate at $141.5 billion (up 11% year-on-year) but raised her EBITDA estimate by 12% to $28.8 billion (up 52% year-on-year) and EPS estimate by 20% to $0.83 (up 170% year-on-year).
For fiscal ...