Citigroup analyst Ronald Josey has lowered the 12-month price target for Amazon (AMZN) stock from $320 to $265, while maintaining a “Buy” rating. This adjustment reflects a more conservative near-term outlook due to a volatile macroeconomic environment, tempered expectations for margin expansion and revenue growth, and increased scrutiny on large-cap technology valuations. Concerns include normalizing consumer demand in e-commerce, cost pressures in logistics, and more measured growth in Amazon Web Services as enterprise customers optimize cloud spending.
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Amazon.com Inc. (AMZN) Citigroup Cuts Price Target to $265
Citigroup analyst Ronald Josey has lowered the 12-month price target for Amazon (AMZN) stock from $320 to $265, while maintaining a “Buy” rating. This adjustment reflects a more conservative near-term outlook due to a volatile macroeconomic environment, tempered expectations for margin expansion and revenue growth, and increased scrutiny on large-cap technology valuations. Concerns include normalizing consumer demand in e-commerce, cost pressures in logistics, and more measured growth in Amazon Web Services as enterprise customers optimize cloud spending.