From Nasdaq: 2024-04-02 11:32:37

Amazon’s share price hits near all-time high as Wells Fargo raises price target to $217. Operating profit soared to $13.2 billion in Q4, with analysts forecasting a 202% year-over-year increase in Q2 operating income. Amazon’s improving top and bottom-line growth could support new highs, but valuations are approaching historical upper ranges. Wells Fargo raised its price target on Amazon to $217, but investors should be cautious of potential overvaluation. The Motley Fool Stock Advisor team identified 10 best stocks to buy, with Amazon not making the cut. Investors should consider Stock Advisor’s recommendations, which have outperformed the S&P 500 since 2002. Wells Fargo is an advertising partner of The Ascent, a Motley Fool company. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. John Ballard has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon.



Read more at Nasdaq: Amazon Stock Has 21% Upside, According to 1 Wall Street Analyst