Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Amazon (NASDAQ: AMZN) was resumed with a Hold rating at Stifel Nicolaus. Stifel’s $330 price target is just a few cents from Amazon’s current share price.
“The company’s customer-centric approach to business is a strategy built upon the belief that duration (the long term) is all that matters… limiting the margin expansion opportunity in the near to intermediate term,” said analyst Scott Devitt.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Like many research houses, Stifel sees international eCommerce and web services driving growth moving forward. However, the note emphasizes that Amazon does not have first mover advantage in these markets.
Related Link: Deutsche Bank Downgrades King Digital
In order for Amazon shares to shoot higher in the long run, Devitt raises four points to consider: Has it already won the eCommerce battle? How will the company grow internationally? How will international margins expand? How big can AWS become?
The $330 price target was derived with a DCF and reflects, “a 18x 2015E EV/Adj. EBITDA multiple and an 74x 2015E Adj. PE multiple.”
Shares of Amazon were last trading at $329.68, up 3.2 percent.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.