Close (AMZN) PT Raised to $160 at Cowen on Lower Operating Losses

December 1, 2022 9:00 AM EST
Get Alerts AMZN Hot Sheet
Price: $108.08 -4.28%

Rating Summary:
    58 Buy, 5 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 9 | Down: 31 | New: 9
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

Cowen analyst John Blackledge raised the price target on (NASDAQ: AMZN) to $160.00 (from $150.00) while maintaining a Outperform rating, saying they expect lowering operating losses ex-AWS and ADV in 2023.

The analyst commented, "Various rising costs incl. (i) employment, (ii) inflation, & (iii) segment investments, coupled with (iv) FX impact to rev. should drive an est. '22 Op Loss of ($26.7BN) for AMZN excluding AWS & Adv. While we expect "rest of biz" Op losses to remain elevated in '23, headwinds should start to subside, driving margin upside vs. consensus. We modestly raised our AMZN Op Inc est's '23-'27, PT to $160"

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst PT Change, Hot Comments

Related Entities

Cowen & Co