Amazon.com Shares Are Trading Higher: What You Need To Know

Zinger Key Points

Cantor Fitzgerald initiates Amazon coverage with an Overweight rating and a $230 price target, highlighting growth potential.
The NLRB declares Amazon a "joint employer" of contracted delivery drivers.
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Amazon.com, Inc. AMZN shares got a boost Thursday after Cantor Fitzgerald initiated coverage on the stock with an Overweight rating and price target of $230, citing its competitive position in its retail and cloud businesses, retail margin expansion and AWS acceleration.

The firm cited Amazon’s growth potential, particularly as it benefits from AI deployments and margin expansions, positioning the company well within the broader Global Internet sector.

Cantor also highlighted operational efficiencies and cost management improvements as potential drivers to retail margin expansion.

What Else: In addition to the analyst upgrade, Amazon is also making headlines due to a significant development in its labor practices. The National Labor Relations Board (NLRB) recently declared Amazon as a “joint employer” of contracted delivery drivers. This ruling, which follows similar decisions from previous cases, could force Amazon to engage in union negotiations with drivers working for third-party logistics companies.

AMZN Price Action: Amazon shares are up by 2.62% at $177.88according to Benzinga Pro.