Stifel Lowered the Firm’s PT for Amazon.com (AMZN), Maintained a Buy Rating

Amazon.com, Inc. (NASDAQ:AMZN) is one of the Best Stocks to Invest in for High ReturnsOn August 1, Stifel lowered the firm’s price target on Amazon.com, Inc. (NASDAQ:AMZN) from $262 to $260, while maintaining a Buy rating on the stock.

The firm noted that the company’s results for the fiscal second quarter were very healthy as both revenue and operating income exceeded the high end of guidance. However, despite the strong performance, the firm reduced the price target as the Q3 outlook remains mixed. Stifel noted that the revenue guidance for Q3 is better than expected; however, the operating income guidance is slightly below expectations.

Stifel Lowered the Firm’s PT for Amazon.com (AMZN), Maintained a Buy Rating

A customer entering an internet retail store, illustrating the convenience of online shopping.

Moreover, the firm was also disappointed by the company’s AWS segment, which remained stable but did not accelerate as expected.

Amazon.com, Inc. (NASDAQ:AMZN) is a technology company known for its e-commerce platform and cloud computing services through its AWS platform.

While we acknowledge the potential of AMZN to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AMZN and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.