Amazon Analyst Sees Upside Fueled By Ad Spend Growth In July, October Prime Day Events - Amazon.com (NASDAQ:AMZN)

Mizuho analyst James Lee reiterated a Buy on Amazon.com Inc AMZN and a $155 price target.
Lee recently hosted an investor call on Amazon Advertising with a leading ad-tech platform.
The ad-tech platform shows Amazon’s SSS-ad-spending growth accelerated 15 points in 3Q22 due to July’s Prime Day.
October’s Prime Day started well, pulling-forward demand and alleviating logistical constraints.
Ad-pricing stabilized in CPG and several key discretionary categories after several quarters of consistent decline, indicating pricing has firmed, and Q4 should turn positive.
He was comfortable with consensus, given positive industry checks and conservative 2H22 seasonality expectations.
Increased fulfillment efficiency, depreciation benefits, and merchant fees could provide an OPI guidance cushion.
Given the historically low valuation, he believes risk-reward is optimistic heading into results.
Price Action: AMZN shares traded lower by 0.80% at $115.42 on the last check Wednesday.
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