Amazon-Nvidia Collaboration Is Key To Amazon's Success in 2024: Analysts

Benzinga ·  12/02/2023 02:16

Oppenheimer analyst Jason Helfstein reiterated an Outperform rating on Amazon.Com Inc (NASDAQ:AMZN) and raised the price target from $170 to $200. The re-rating reflected higher e-commerce margins, increased AWS multiple, and reiterated AMZN as his top large-cap pick for 2024. Also Read: Amazon's Cloud and AI Innovations Bolstered by Nvidia Partnership, Analyst Predicts Growth The analyst expects e-commerce ex-ads margins to expand in FY24 and FY25 on fulfillment network efficiency. Consensus estimates imply no FY24 margin expansion ex-advertising. Helfstein increased his target AWS multiple as mature and high-growth software company valuations have increased from respective lows

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