UPDATE: Redburn Starts (AMZN) at Buy

June 29, 2022 3:35 AM EDT
Get Alerts AMZN Hot Sheet
Price: $93.41 -0.76%

Rating Summary:
    57 Buy, 4 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 5 | New: 0
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(Updated - June 29, 2022 5:59 AM EDT)

Redburn analyst Neil Steer initiates coverage on (NASDAQ: AMZN) with a Buy rating and a price target of $270.00.

The analyst comments "AWS is worth $3trn, or almost 3x Amazon’s current market cap. Looking under AWS’ hood reveals that there is a clear path towards this valuation, as advanced services within its portfolio are hardly used. Its cost and technology leadership drive market share gains in all areas. The most valuable service is S3, worth $1.5trn. Shareholders will benefit from AWS’ upside one way or the other. Separating AWS may not be on the table for now, but if the performance gap versus the non-AWS parts continues to widen, it could be on the table further down the road. We launch coverage of Amazon with a Buy and a $270 price target."

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

Shares of closed at $107.40 yesterday.

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