Goldman Sachs re-raises Amazon price target

 

Goldman Sachs set a $900 price target (up from $790) on the company.

Q2 report, Goldman Sachs analyst Heath Terry upped his Amazon (AMZN +0.5%) target again, this time to $920. He maintains a Buy rating.

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Terry accurately forecasted the 58% Y/Y AWS revenue growth the company realized this quarter.

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He cites Amazon’s continued investment in its AWS business, particularly in the infrastructure supporting it. Nine Availability Zones are expected to be added over the upcoming year, which Terry sees as reducing capacity constraints and increasing revenue growth. Though he additionally notes these efforts may constrain short term margins.

Fuente: Seeking Alpha


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