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Amazon Moves Up Amid Positive Comments At Goldman Sachs, Upgrade At Citigroup

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Shares of Amazon.com, Inc. (NASDAQ: AMZN) climbed higher in Tuesday’s premarket amid positive comments from Goldman Sachs and Citigroup.

At Goldman Sachs, Amazon was listed as part of 25 tactical trade ideas for options ahead of earnings. Buying calls was recommended due to volatility during earnings season.

Citigroup analyst Mark May upgraded Amazon from Neutral to Buy and raised the target price from $325 to $354. May liked the stock’s valuation, the company’s gross profit and prospects for improved margins.

Veteran option trader Thomas Carr "Citi's upgrade of Amazon was the right call. No one predicted the explosive growth of their Prime service, which is on target to hit 25 million members in two years." Amazon traded at $296.45 in Tuesday’s premarket, up 1.73 percent.

Latest Ratings for AMZN

DateFirmActionFromTo
Jul 2017Morgan StanleyMaintainsOverweight
Jul 2017Deutsche BankMaintainsBuy
Apr 2017BenchmarkReiteratesBuyBuy

View More Analyst Ratings for AMZN
View the Latest Analyst Ratings

Posted-In: Citi Goldman Sachs Mark MayNews Pre-Market Outlook Analyst Ratings

 

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