HomeLifestyleRetailAmazon (AMZN) As "Top Pick" In Internet Sector By Wells Fargo

Amazon (AMZN) As "Top Pick" In Internet Sector By Wells Fargo

Wells Fargo initiates coverage on Amazon (AMZN). Alex Coffey and Jenny Horne discuss AMZN as Wells Fargo initiated coverage with an overweight rating and a $159 price target. AMZN is designated as a "top pick" overall in the internet sector, and AMZN's North America margins are set to return to 2018 levels in 2025, one year ahead of the street on waning inflation, according to Wells Fargo. Alex and Jenny also talk about how AMZN is considering an ad-supported tier for its Prime Video service. Alex demonstrates an example trade using AMZN. The trade type is a buy a call diagonal and the direction is bullish. Tune in to find out more about the stock market today.

Next Gen Investing

09 Jun 2023

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