BofA Securities Reiterates Buy Rating on Amazon.com (AMZN)

BofA Securities analyst Justin Post reiterated a Buy rating and $210.00 price target on Amazon.com (NASDAQ: AMZN).

The analyst comments "There are 2.6bn people worldwide who do not have broadband access, and Fortune Business Insights est. a $26bn 2032 global revenue potential. However, there are limitations on disposable income for the unconnected, while Amazon’s satellite service faces established competition (Starlink), requires big upfront investment, and has high recurring costs. There are business synergies to consider, Amazon’s logistic network, which include AVs, trucks, drones, and delivery robots could benefit from an always available, connected network. Also, AWS’s enterprise & gov. customers could see use cases (e.g., AWS & Kuiper’s partnership with US DoD on military comm. solution). Still, with Kuiper losses expected to grow, and Amazon’s market cap over $1.8tn, we think it will be years before any Kuiper related market cap expansion is possible for AMZN. We reiterate our Buy rating."

For an analyst ratings summary and ratings history on Amazon.com click here. For more ratings news on Amazon.com click here.

Shares of Amazon.com closed at $188.99 yesterday.

You May Also Be Interested In

• Raymond James on Dianthus Therapeutics (DNTH) Amid 8% Gain: 'Incrementally More Bullish On The CIDP Program (again)'
• DoJ approves Paramount's acquisition of Warner Bros - Politico
• Freedom Holding launches $300 million common stock offering