Is Amazon Stock Going to $230? 1 Wall Street Analyst Thinks So.
Many analysts follow Amazon (NASDAQ: AMZN) stock. As expected, their price targets can vary considerably. According to data compiled by MarketWatch, the current spread is $160 to $235 per share.
Recently, a pundit tracking the stock moved rather close to that upper limit by raising his fair value estimation. Let's pick it apart a little to see if it's too optimistic, just right, or even a lowball prediction.
In mid-April, MoffettNathanson's Michael Morton lifted his Amazon price target to $230. Well, maybe "lifted" is overstating the case; "bumped" would be more like it, as his previous level was $228. In making the change, Morton maintained his buy recommendation on the dominant online retailer. That price target implies a 30% upside for the stock over the next 12 months.
Source Fool.com