Schaeffer's Top Stock Picks for '25

Another Analyst Pins Trillion-Dollar Hopes on Amazon

AMZN shares are pulling back, despite a pair of price-target hikes

Managing Editor
Jan 10, 2018 at 10:20 AM
facebook X logo linkedin


Amazon.com, Inc. (NASDAQ:AMZN) is back in the headlines after receiving a price-target increase to $1,385 from $1,375 at J.P. Morgan Securities. In a note to clients, the brokerage firm cited expectations for margin growth in 2018, and high hopes for the company's web services unit. Echoing a similarly upbeat note from Morgan Stanley last November, J.P. Morgan said AMZN has the potential to be a $1 trillion company.

Separately, the FAANG stock on Tuesday landed a price-target hike to $1,400 from $1,200 at Piper Jaffray, which -- like J.P. Morgan -- backed its "overweight" rating on the shares. Of the 37 brokerage firms following AMZN, no fewer than 34 call the stock a "buy" or "strong buy."

Despite today's pair of bullish analyst notes, Amazon stock has been trading lower all morning, following suit with a broader downside bias. At last check, AMZN was off 0.6% at $1,245.21 -- but on a year-to-date basis, the equity has already rallied about 6.5%, and just yesterday, the shares set a fresh record high of $1,259.33.

And while contrarians may be concerned that AMZN is trading lower today despite some upbeat analyst attention, it's worth noting that -- in addition to the broad-based concerns impacting today's market action -- the stock itself may have been due for a breather anyway.

Specifically, AMZN notched six straight days of gains through Tuesday's close, marking its longest daily win streak in about eight months. As a result, its 14-day Relative Strength Index (RSI) stood at 75 as of last night, indicating a short-term overbought condition that may need to be worked off before the next leg higher begins.

 
 

Which of These SUB-$5 Stocks Could 26x From Here? (AD)

He called a rare 11x on Tesla…

Then he called a 26x on Workhorse…

Then an even rarer 35x on Nio Inc…

Now Tim Bohen says these 5 tiny “America First” stocks are next up in 2025.

They’re trading for less than $5 right now.

But thanks to Elon & Trump’s new alliance…

They could be off to the races in Trump’s first 100 days.

And right now for a limited time…

You can get the names & tickers for just $1 here. (AD)

10 Stock Picks FREE
 
 

Featured Articles from Trusted Partners:

🚀 One Stock Pick Could Change Everything in 2025
What if one stock pick could define your success next year? Get 10 expert-vetted stocks set for 2025—plus 5 bonus picks to watch now. Get the Report →

🆕 New Options Need New Trading Strategies
Zero-DTE options are the newest (and hottest) options to trade.  Professional traders have rushed into the market and are making a mint.  Don’t get left behind - learn all about these options, how to trade them, market setups to profit from, plus much more. Download now →

👀 Revealed: 3 Defensive Stocks for Your Portfolio
Worried about the market? This free report reveals 3 under-the-radar defensive stocks for uncertain times in any kind of economy.

 

 
 

FREE Report Download

 

Follow us on X, Follow us on Twitter