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Amazon (AMZN) added to Wells Fargo Q2 Tactical Ideas List
April 1, 2024 8:58 AM EDTWells Fargo added Amazon (NASDAQ: AMZN) to its second quarter 2024 Tactical Ideas List in a note Monday previewing the company's first-quarter results. The firm maintained an Overweight rating on the stock, raising the price target to $217 from $211.
The firm sees a... More
Amazon.com (AMZN) PT Raised to $217 at Wells Fargo, 'Adding to the Q2'24 Tactical Ideas List'
April 1, 2024 5:46 AM EDTWells Fargo analyst Ken Gawrelski raised the price target on Amazon.com (NASDAQ: AMZN) to $217.00 (from $211.00) while maintaining a Overweight rating.
The analyst comments "Maintain 1Q24 OI of $12.4B vs. Street $11.0B, raise 2Q OI to $14.5B (vs. Street $12.6B) and expect 2Q guide of $10.0-14.0B. Believe restructured FBA fees and cost externalization driven by FBA inventory placement fees will drive $1.2B of incremental OI vs. 1Q24. In addition to the FBA fee change, we expect... More
