Amazon (AMZN) Received its Third Buy in a Row
After Morgan Stanley and Cowen & Co. gave Amazon (NASDAQ: AMZN) a Buy rating last month, the company received another Buy, this time from Stifel Nicolaus. Analyst Scott Devitt maintained a Buy rating on Amazon yesterday and set a price target of $2300.00. The company’s shares closed last Monday at $1757.51.
According to TipRanks.com, Devitt is a top 100 analyst with an average return of 18.7% and a 66.3% success rate. Devitt covers the Technology sector, focusing on stocks such as Jumia Technologies AG, Uber Technologies Inc, and Eventbrite Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Amazon with a $2289.48 average price target, representing a 28.1% upside. In a report issued on October 8, Wolfe Research also initiated coverage with a Buy rating on the stock with a $2234.00 price target.
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The company has a one-year high of $2035.80 and a one-year low of $1307.00. Currently, Amazon has an average volume of 3.18M.
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