Amazon Has Wall Street Seeing Return to Record Stock Price
- Cloud product, margin trends make it top pick at many firms
- Shares are well below 2021 record after slump to start year
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Amazon.com Inc. shares are poised to resume their gains after a rough start to 2024, putting the stock on track for a long-awaited return to record high levels posted more than two years ago.
That, at least, is the view among analysts, with some 97% of those tracked by Bloomberg recommending the cloud-computing and e-commerce giant’s shares. Bank of America Corp., Citigroup Inc., Deutsche Bank AG, Goldman Sachs Group Inc. and JPMorgan Chase & Co. are among firms naming it their top e-commerce or internet stock for 2024, while Oppenheimer and Roth MKM crowned it their favorite large-cap choice.