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BofA Cuts Amazon (AMZN) Price Target On FX Pressure
July 20, 2022 9:59 AM EDTAhead of Amazon's (NASDAQ: AMZN) latest earnings release on July 28, analysts at BofA and Jefferies cut their price targets on the stock.
BofA analyst Justin Post reiterated a Buy rating but lowered the firm's price target from $188 to $168, telling clients in a research note that they are lowering 2022 and 2023 estimates to reflect recent FX pressure and the BofA outlook for a mild fourth quarter recession.
"Ex-FX, we expect meet/beat 2Q, as BAC aggregated credit and debit card data points to 2pts of... More
