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Amazon profitability up, capital intensity down equals multiple expansion - MoffetNathanson
November 15, 2022 4:29 PM ESTMoffettNathanson analyst Michael Morton started Amazon (NASDAQ: AMZN) at Outperform with a $118 price target in a research note on Tuesday. Morton said that with profitability up and capital intensity down, it equals multiple expansion.
"We forecast a material step down in capital... More
