Wells Fargo Investment Institute is getting more bullish on Amazon as the e-commerce retailer's Amazon Web Services and North American retail segments "near inflection points." Analyst Lawrence Pfeffer added the company to the firm's focus list as it returns to normalizing operating conditions and braces for a potential 174% uptick in free cash flow between 2023 and 2025. The e-commerce stock replaces O'Reilly Automotive .
mountain Shares have rallied more than 65% this year Amazon shares have rallied more than 65% this year. The stock surged more than 8% on Friday on the back of its biggest earnings beat since the fourth quarter of 2020. Amazon also issued optimistic guidance. Key to Wells Fargo's increasingly positive stance are a reacceleration in growth at AWS after a multiquarter period of weakness and better commentary from management defining its generative AI goals.
Source: News Formal (newsformal.com)
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