Amazon Stock Has 19% Upside, According to 1 Wall Street Analyst
Amazon (NASDAQ: AMZN) stock is on a roll. Up 75% over the last 52 weeks -- 3x the performance of the S&P 500 -- Amazon looks almost entirely recovered from its pandemic-related funk.
Amazon lost $2.7 billion in 2022, as the costs of expanding to accommodate pandemic-era home shopping came home to roost. But 2023 profits -- $30.4 billion -- nearly equaled the company's record profit of 2021 ($33.4 billion). And this year, Amazon looks ready to set a new record, with analysts polled by S&P Global Market Intelligence predicting the e-commerce star will earn more than $44 billion.
Think that's worth an upgrade? So does Truist Securities analyst Youssef Squali. On Wednesday, he raised his price target on Amazon stock by 11%, to $216 a share. That target implies 19% upside for the tech stock over the next 12 months.
Source Fool.com
