Amazon price target lifted to $150 per share as AI will drive the next leg higher, says Jefferies

Jefferies lifted its price target on Amazon.com Inc. shares to $150 from $135 on Wednesday. “We believe upside to consensus combined with positive sentiment...

Jefferies lifted its price target on Amazon.com Inc. shares to $150 from $135 on Wednesday. “We believe upside to consensus combined with positive sentiment from AI will help AMZN shares to re-rate,” said a team of analysts led by Brent Thill. Jefferies’ full-year 2024 forecast for earnings before interest, taxes, depreciation and amortization , a measure of a company’s health, is 8% higher than consensus.

Jefferies’ full-year 2024 forecast for earnings before interest, taxes, depreciation and amortization , a measure of a company’s health, is 8% higher than consensus. The analysts credited the 50% year-to-date rise in Amazon’s share price to improved profitability, an expected recovery for its Amazon Web Services cloud platform and benefits from AI tailwinds. “We see AMZN as a core beneficiary from the rise of AI as AWS benefits from increased usage to train and run AI models.

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