Bullish
Amazon's Prime Day boosts stock; Bank of America maintains $310 price target
In the past 24 hours, Amazon's stock has seen positive momentum following a strong Prime Day performance. Bank of America has reaffirmed its bullish stance, maintaining a $310 price target for the stock.
Key points
- Amazon's Prime Day event showed strong demand, with U.S. online retail spend up 9% during the event window.
- Bank of America reiterated its 'Buy' rating on Amazon, citing the solid Prime Day performance and AWS pricing updates.
- Some analysts note that while Prime Day was strong, the average order value was down 11%, indicating a shift toward essentials.
- Timing remains a risk, with estimates suggesting $7 billion to $8 billion of sales may have shifted into Q2.
Sources
AI-generated from public news sources. Not financial advice.
