Jefferies analysts have given Amazon (AMZN) stock a "Purchase" recommendation and forecasted a per-share target price of $165.
The company's updated SOTP «values AMZN's non-retail business at $1.3 trillion (versus an EV of $1.2 trillion)». «Our SOTP calculates a near-zero Core-Retail value, which results in a $29 per share option at Amazon's current price, because the stock is already priced in the existing effects of inflation, which limits the downside and creates an attractive risk-reward ratio», they explained.
Source: Jefferies.com
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