Wall Street Overwhelmingly Bullish On Amazon’s Quarter

Amazon.com, Inc. AMZN 0.62% shares are up 7.0 percent in Friday trading after the company reported strong top-line and bottom-line beats in Q3.

Amazon reported GAAP EPS of $0.17 on revenue of $25.4 billion, ahead of consensus estimates of -$0.13 and $24.9 billion, respectively.

Where does Amazon’s stock go from here? Here’s what five Wall Street firms have to say about the stock now.

Jefferies

Analyst Brian Pitz believes Amazon “should be a core eCommerce holding as it has plenty of growth opportunities ahead.”

Jefferies has a Buy rating on Amazon and raised its price target from $730 to $775.

Cantor Fitzgerald

Analyst Youssef Squali believes the world “could be seeing the beginnings of the much sought-after margin expansion phase” for Amazon.

The firm maintains its Buy rating and raised its price target from $670 to $750.

Macquarie

Analyst Ben Schachter pointed out…

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