Stocks
Goldman Sachs Sees Amazon Stock Rally to New Peak
Goldman Sachs' Eric Sheridan is predicting a bull rally for Amazon stock over the next year. Despite its recent decline, Sheridan expects AMZN to regain its all-time high and potentially reach $375 by October 1, 2027.
The bank's 12-month price target for Amazon stock was reaffirmed at $375 after Sheridan maintained a 'Buy' rating in a note sent to clients on Thursday. This would represent a possible 50.51% gain from the current price of approximately $249.15.
Goldman Sachs based its bullish thesis on Amazon's compound revenue growth and operating margin expansion over a multi-year horizon, adding AMZN stock to its United States Conviction List.