Jefferies hikes Amazon stock target on strong AWS and advertising trends

Jefferies hikes Amazon stock target on strong AWS and advertising trends

), raising their price target to $235 per share from $225 in a note Tuesday, citing strong growth in both Amazon Web Services and advertising sectors.

Jefferies expects AWS revenue growth to accelerate,"from 13% in 4Q23 to 21% in 4Q24E," due to fading cost optimization headwinds and a growing need for cloud modernization to leverage next-generation Artificial Intelligence . Jefferies concludes by emphasizing the attractive valuation of Amazon stock."Valuation is attractive at 13.6x CY25E EV/EBITDA, or a ~25% discount to the 10-Yr average ~18x," they write.

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