Is Amazon Stock Going to $225? 1 Wall Street Analyst Thinks So.
Amazon (NASDAQ: AMZN) stock has more than doubled since bottoming out in 2022. Supporting those gains is a substantial improvement in the company's profits, which is still a catalyst for the stock.
Following another strong earnings report last month, Loop Capital analyst Rob Sanderson raised the price target on the shares from $215 to $225. That implies a 21% upside from the current price, which could be a realistic possibility.
The analyst pointed out that Amazon's retail business drove most of the company's growth in operating profit in the first quarter. Operating income more than tripled to $15.3 billion compared to the prior-year period, as the North American operating segment saw a massive 455% year-over-year increase in operating profit. Amazon also turned a year-ago loss in the international segment into an operating profit of $903 million.
Source Fool.com
