JPMorgan is slightly less bullish on Amazon going into 2023 - the firm has a buy rating on the company but lowered its price target.
JPMorgan is still bullish on shares of Amazon but sees it rising less than previously expected in 2023. The firm slashed its 12-month price target to $130 from $145 in a Dec. 16 note. The new price target implies more than 46% upside to where shares currently trade. JPMorgan's previous price target implied a nearly 64% upside for the technology company.
"Importantly, our 4Q revenue estimate includes AWS growth of +21% Y/Y, further deceleration from the mid-20's% 3Q exit rate, reflecting greater macro pressure on cloud spending," Anmuth said. The firm's total 2023 revenue estimate is down about 2% to $563 billion, including 17% AWS revenue growth on the year. In addition, their 2023 operating income estimate comes down 21% to $19.4 billion.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
JPMorgan upgrades Meta to buy, saying top and bottom-line pressures will ease in 2023Even though the stock has slumped this year, JPMorgan sees a healthy upside for Meta in 2023.
Leer más »
Strategists are gloomy on 2023 corporate earnings — and S&P 500 price targetsThe problem for stocks in 2023 is the extent of a recession, and the extent of the earnings decline.
Leer más »
Bitcoin Price Could Drop to $10,000 in 2023, Investor Mark Mobius SaysBitcoin holders should expect the cryptocurrency's price to slide to $10,000 next year, according to Mark Mobius
Leer más »
The 2023 Nissan Ariya Is a Shining Electric LightNissan’s EV future is increasingly promising.
Leer más »
AMC Entertainment To Offer Co-Branded Visa Card For Stubs Members In Early 2023AMC Entertainment plans to offer a co-branded credit card starting in early 2023 for members of its loyalty program, a first in the theatrical exhibition industry and the latest venture by the movi…
Leer más »