Baird Lifts Amazon (AMZN) Price Target Ahead of Earnings, Citing New Growth Bets

Amazon.com, Inc. (NASDAQ:AMZN) is one of the AI Stocks Analysts Are Tracking Closely. On July 21, Baird analyst Colin Sebastian maintained an “Outperform” on the stock and raised the price target from $220.00 to a new target of $244.00.

The rating affirmation follows the firm updating its model. It now believes “Amazon Space Platform” is another big long-term bet for the company.

In other news, Wells Fargo reiterated Amazon, Alphabet, and Expedia as “Equal Weight,” optimistic that all three stocks are the “best tactical longs” ahead of earnings.

“See investors positioned much more aggressively in the SMidCaps and higher beta names, in stark contrast to last quarter where ‘defense’ was the mantra. Expect high volatility given positioning. See AMZN , GOOG and EXPE as best tactical longs.”

Baird Lifts Amazon (AMZN) Price Target Ahead of Earnings, Citing New Growth Bets

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Amazon.com Inc. (NASDAQ:AMZN) is an American technology company offering e-commerce, cloud computing, and other services, including digital streaming and artificial intelligence solutions.

While we acknowledge the risk and potential of AMZN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AMZN and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 AI Stocks Gaining Attention on Wall Street and 10 AI Stocks Investors Are Watching Closely.

Disclosure: None.