Corporate giant Amazon has made great strides in the global commercial markets. The entity needs no introduction as its ecosystem is connected worldwide, with new developments taking place every second.
Amazon’s stock price is currently at $185, with a high price target of $265. Will it be able to claim its coveted price targets soon? Let’s find out.
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Amazon: New Developments
Amazon is taking the world by storm as the corporate giant continues to roll out fresh offerings that may fetch the entity an excellent global reputation. In its recent Accelerate 3P conference, Amazon announced a series of creative, innovative bolstering seller tools and logistics operations.
The conference enabled Amazon to announce some of its latest key explorations, including unveiling generative AI listing tools and advancements in Amazon’s logistics and shipping capabilities. At the same time, the entity announced new integrations to its buy with Prime service, offering more options to its sellers.
Such developments compelled TD Cowen to issue a new stock forecast for Amazon. The investment behemoth shared how AMZN can scale a high of $230 if the developments and market momentum continue to support the firm.
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AMZN Forecast: $285 Achievable For The Firm?
According to TipRanks, Amazon’s long-term target is $285, which the firm may claim within the next 12 months. At the same time, TipRanks shared how Amazon may spike soon to trade at $224. In alternate scenarios, the portal also predicts a low of AMZN, which may compel its price to hit $186.
“Based on 45 Wall Street analysts offering 12-month price targets for Amazon in the last 3 months. The average price target is $224.05 with a high forecast of $265.00 and a low forecast of $186.00. The average price target represents a 21.07% change from the last price of $185.06.”
Nearly 44 of 45 Wall Street experts have issued a strong buy call, urging investors to explore the stock at their own pace.
“Amazon’s analyst rating consensus is a strong buy. This is based on the ratings of 45 Wall Street analysts.”
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