Why Amazon Stock Rallied Friday Morning
AMZNAmazon(AMZN) The Motley Fool·2024-10-05 02:48

One Wall Street analyst made the case that Amazon can save billions of dollars, thereby improving its bottom line.Shares of Amazon (AMZN 1.59%) climbed higher on Friday, adding as much as 3.1%. As of 2:27 p.m. ET, the stock was still up 1.6%.The catalyst that sent the e-commerce and cloud computing titan higher was a bullish take from a Wall Street analyst.Billions of dollars to the bottom lineJMP Securities analyst Nicholas Jones maintained an outperform (buy) rating on Amazon stock while setting a price t ...