UPDATE: Guggenheim Assumes Amazon.com (AMZN) at Buy

November 22, 2021 4:16 PM EST
Get Alerts AMZN Hot Sheet
Price: $3,523.29 +2.80%

Rating Summary:
    56 Buy, 3 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 20 | Down: 18 | New: 45
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(Updated - November 22, 2021 4:20 PM EST)

Guggenheim analyst Oliver Hu assumes coverage on Amazon.com (NASDAQ: AMZN) with a Buy rating, PT $4,300.00.

The analyst comments "Our positive thesis centers on the company’s long term sales and profit runway, but more importantly, the potential for a significant positive inflection in early/mid 2022 vs. the moderating sales/margin trends we have been seeing in 2H21. Relative valuation back at pre-pandemic levels suggests that the stock reflects the cyclical risks (which are real), but not the structural positives, incl. the changes in consumer behavior, and potential for AMZN’s disruption to accelerate through FY22 and into FY23. We see AMZN as one of the best investment opportunities where there is sales/EBITDA upside potential along with valuation which is currently towards its lows."

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 $3676.57 yesterday.

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