Scotiabank has adjusted its price target for Amazon.com (AMZN, Financial), reducing it from $306 to $250, while maintaining a positive outlook with an "Outperform" rating. This revision comes amid broader shifts in the market sentiment, particularly affecting stocks in the online sector.
The current market landscape shows that companies with exposure to China and trade tariffs are underperforming, whereas those considered more stable are gaining traction. Despite challenges such as reduced advertising spend across various sectors and a moderated demand for cloud services, Scotiabank continues to see Amazon as a leader in the industry.
Furthermore, the firm recognizes a significant trend where investors are gravitating toward 'safer' investment options. Even amidst these evolving dynamics, Amazon remains Scotiabank's top recommendation in the internet sector.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 66 analysts, the average target price for Amazon.com Inc (AMZN, Financial) is $253.43 with a high estimate of $306.00 and a low estimate of $200.00. The average target implies an upside of 49.55% from the current price of $169.46. More detailed estimate data can be found on the Amazon.com Inc (AMZN) Forecast page.
Based on the consensus recommendation from 72 brokerage firms, Amazon.com Inc's (AMZN, Financial) average brokerage recommendation is currently 1.8, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Amazon.com Inc (AMZN, Financial) in one year is $183.76, suggesting a upside of 8.44% from the current price of $169.46. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Amazon.com Inc (AMZN) Summary page.
