Amazon.com Inc. (NASDAQ:AMZN) is one of the 12 Best Dow Stocks to Invest In Right Now.
According to a report released on July 2, Monness analyst Brian White reiterated a Buy rating on Amazon.com Inc. (NASDAQ:AMZN) while increasing the price target
The analyst raised the firm’s price target on the stock from $241.7 to $315. The upward revised price target implies an additional 29% upside from current levels. Adding to the positive outlook, Wells Fargo also raised its price target on Amazon.com Inc. (NASDAQ:AMZN) on the same day.
Ken Gawrelski from Wells Fargo slightly increased the firm’s price target on the shares from $312 to $313 and reaffirmed a Buy rating. The analyst’s assigned price target is close to the median Wall Street price target of $320, based on estimates from 70 analysts covering the stock. On July 2, the company’s top hardware executive said in an interview with CNBC that Amazon.com Inc. (NASDAQ:AMZN) is focusing on developing its own chips for key consumer devices.