- Tigress Financial analyst Ivan Feinseth reiterated Amazon.com Inc (NASDAQ:AMZN) with a Buy and maintained a $232 price target.
- He saw ongoing momentum in Prime Membership, increasing traction with third-party sellers, strength in AWS, and growth and share price gains.
- He believed that growth in Prime membership, ongoing momentum in AWS, and increasing advertising revenue growth would continue to drive accelerating Business Performance trends.
- Also Read: This Analyst Explains Why He Sees Amazon’s Cloud Unit Reaching A Valuation Of $3T
- AMZN continues to announce new initiatives in autonomous delivery, home, automotive integration, and innovation across every aspect of retail and technology, he noted.
- He wrote that Amazon Web Services (AWS) continues to be a powerful growth catalyst driven by ongoing innovation and a steady cadence of new customer wins.
- Amazon has a strong balance sheet, cash flow fund, ongoing innovation, and critical growth initiatives.
- Price Action: AMZN shares traded higher by 1.53% at $108.63 on the last check Wednesday.
- Photo by Tony Webster via Flickr
