Despite a choppy 2021 for the wider tech market, Amazon has remained relatively steady gaining 8% over the past 6 months. As the largest Blue Chip company on the market, Amazon Stock maintains a strong reputation on Wallstreet. In fact, Amazon.com Stock is one of the highest rated stock across Wallstreet according to MarketBeat data. Here’s what UBS had to say regarding their Amazon Stock Price Target hike.
UBS Amazon Stock Price Target Breakdown
Amazon Stock Price Target boosted to $4,700 by UBS
On December 2, UBS analyst Kunal Madhukar assumed coverage on Amazon Stock with a Buy rating and $4,700 price target. Madhukar noted that Amazon is the analyst’s favorite name in the US internet sector right now.
The analyst believes Amazon Stock has been underestimated on Wallstreet, expecting multiple re-ratings on the companies Retail and Web Services revenue in 2022. The Swiss Bank noted that Amazon Stock has “multiple levers” that are expected to drive greater margins over the next 12 months.
The Amazon Stock Price Target represents a 36.7% upside from its current trading price, a healthy upside for a Blue Chip stock. With the choppy nature of the market right now, this upside may even widen as investors await the predicted impacts of the Omicron variant.
Amazon to surpass Walmart as largest retailer in 2022 says JP Morgan
JP Morgan Analyst Doug Anmuth sees Amazon surpassing Walmart as the largest retailer in 2022. The analyst expects U.S online holiday sales to grow 14.5% YOY, outpacing last years pandemic driven only spending frenzy.
Anmuth also highlighted that Amazon has doubled its fulfillment network since the beginning of the pandemic and will benefit from this expansion over the coming holiday break. JP Morgan currently have an Amazon Stock Price Target of $4,350 a share, indicating a 26% upside.
Amazon Stock Price Target Boosted By UBS: Summary
Overall, Amazon continues to outperform maintaining a strong reputation amongst Wallstreet analysts.The UBS upgrade indicates a 36% upside, which is relatively rare amongst Blue Chip companies.
However, Amazon’s compounding growth in sales and revenue do not appear to be slowing down anytime soon.
Overall, the general consensus on Wallstreet shows upside, even with Jeff Bezo’s out of the management picture.
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The content above is strictly for informational purposes only and is not financial advice nor does it constitute a recommendation. Youth Investment Group has no liability for personal financial interests or investment decisions. You should make your own investment decisions based upon your own research and what you believe is best for you.