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Amazon Set a New 52-Week High: Is the Stock a Buy Now?

TheMotleyFool

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Amazon Set a New 52-Week High: Is the Stock a Buy Now?: https://g.foolcdn.com/editorial/images/758694/amazon-van.jpg

Amazon (NASDAQ: AMZN) stock reached another 52-week high today on a bullish analyst note and as tech stocks rose broadly.

The key news item driving the stock higher was a bullish note on the stock from Roth MKM, which raised its price target from $165 to $180. It also maintained its buy rating and called the stock its top megacap pick for 2024.

The research firm said it expected internet industry tailwinds to be more muted in 2024, but Amazon is the only megacap stock for which it expects accelerating revenue and expanding operating margins.

Source Fool.com

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