In a research report published Monday, Axiom analyst Victor Anthony initiated coverage on shares of Amazon.com, Inc. (NASDAQ:AMZN) with a price target of $434, which represents a potential upside of 15% from where the stock is currently trading.
Anthony noted, “Amazon remains a disruptive force in retail, digital media, and cloud services. However, owning the stock today requires a level of conviction that the model can grow revenues in the mid-to-upper teens and drive incremental operating margins, while investing meaningfully to drive growth. A look at revenue and expense levers suggests that this scenario is doable. As such, we remain in the bull camp on the stock.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Victor Anthony has a total average return of 18.9% and a 73.4% success rate. Anthony has a 11.6% average return when recommending AMZN, and is ranked #47 out of 3508 analysts.