TD Cowen Reiterates Buy Rating on Amazon.com (AMZN)

TD Cowen analyst John Blackledge reiterated a Buy rating and $230.00 price target on Amazon.com (NASDAQ: AMZN).

The analyst commented, "We expect accelerating revenue growth of +10.7% y/y in 3Q, +0.8% vs consensus, driven by AWS and advertising revenue of +19.8% y/y and +20.0% y/y, respectively. Our 3Q24 Op Income forecast of $16.0BN is 9% above consensus, driven by AWS & adv. segments and lower cost to serve. We slightly lowered 4Q & LT Op. Inc. while raising AWS ests & unveiling '25 quarterly ests. PT unchanged at $230."

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

Shares of Amazon.com closed at $186.51 yesterday.

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