Amazon Stock Has 26% Upside, According to 1 Wall Street Analyst. Is the Stock a Buy at an All-Time High?
It's clear that recent advances in artificial intelligence (AI) will impact the world in ways we can't yet imagine. One company that's been at the forefront of AI for decades is Amazon (NASDAQ: AMZN), and the company has no intention of ceding its advantage
The stock is up 82% over the past year, reaching an all-time high on April 10, but one Wall Street analyst believes Amazon still has room to run.
DA Davidson analyst Gil Luria maintained a buy rating on Amazon stock while boosting his price target to $235, which represents potential upside for investors of roughly 26% compared to Wednesday's closing price. The analyst believes Amazon Web Services' (AWS) data center investments and custom AI chips position the company well to profit from generative AI, and Amazon's retail profits are poised to rebound.
Source Fool.com