Stock Groups

Amazon Top FANG Stock For 2022 -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — Amazon.com Inc (NASDAQ:) shares have climbed 2.44% Tuesday following positive commentary from Morgan Stanley and BofA analysts.

Analyst at Morgan Stanley Brian Nowak raised his price target for Amazon shares from $4,000 to $4,200, while still maintaining an overweight rating. 

In a note to investors, the analyst stated that investors will have a better understanding of AMZN’s annual estimated spending on engineers (excluding AWS), and other “other bets”, in order to understand its core retail business. 

BofA reiterated its buy rating for the stock with a price target of $4,450. It also referred to the stock as the “top FANG stock in 2022”.

Justin Post, analyst at Amazon, told investors Monday in a note that there are several obstacles to Amazon’s growth. They also expect strong margin expansion and growth for 2023-2025 as a result of a large infrastructure investment cycle.

Amazon enjoys the support of Wall Street analysts. TipRanks surveyed 30 people and gave Amazon a buy rating. The price target average is $4144.17.

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