Amazon Stock (AMZN) Gets a Price Target Boost Ahead of Earnings
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Youssef Squali, a four-star rated analyst at Truist Securities (TFC), raised his price target on AMZN stock to $250 from $226, which is 13% higher than the stock's closing price of $220.46 on July 2. Squali also reiterated a Buy rating on the shares.
In a note to clients, Squali wrote that he expects Amazon to report strong Q2 results, driven by a resilient North American consumer 'virtually unaffected by the macro or tariffs so far.' AMZN stock is flat on the year as investors worry that consumers have pulled back their spending amid ongoing tariff uncertainty.
Mixed Messages
So far, the data and messaging on tariff impacts has been mixed. Amazon CEO Andy Jassy said in a CNBC interview recently that the online retailer has 'so far not seen prices appreciably go up… We did a lot of forward buying several months ago, and then a lot of our sellers—our third-party selling partners—forward deployed a lot of inventory to avoid some of the issues with the uncertainty around tariffs.'
However, a new survey from privately held Alix Partners concludes that e-commerce is experiencing its most disruptive period in more than 10 years as online shopping activity nosedives due to U.S. President Donald Trump's tariff policies. Many on Wall Street are eagerly awaiting the Q2 print from Amazon and other retailers to gauge the true impact of President Trump's tariff regime.
Amazon is expected to report its Q2 financials on or around July 31. The stock is up less than 1% this year.
Is AMZN Stock a Buy?
average Amazon price target of $243.32 implies 10.64% upside from current levels.
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