Key Takeaways:
- Amazon's Project Kuiper could generate significant revenue by capturing a substantial market share.
- Bank of America maintains a bullish outlook on Amazon, setting a $248 price target.
- Analysts forecast a potential upside for Amazon in the coming year.
Bank of America’s Optimistic Outlook on Amazon
Bank of America is projecting that Amazon's innovative Project Kuiper could reach $7.1 billion in revenue by 2032, assuming it secures a 30% share of the consumer market. This ambitious low Earth orbit satellite broadband initiative is not only set to revolutionize consumer connectivity but is also expected to bolster Amazon Web Services (AWS) by attracting enterprise and government clientele. Reflecting this potential, the bank continues to recommend buying Amazon stock, with a price target of $248.
Wall Street Analysts' Amazon Price Targets
Among 67 analysts offering their insights, the average target price for Amazon.com Inc (AMZN, Financial) is pegged at $245.30. Projections range from a high of $305.00 to a low of $195.00, suggesting an average upside of 10.77% from the current trading price of $221.45. Investors seeking more detailed future price estimates can visit the Amazon.com Inc (AMZN) Forecast page.
Brokerage Firms' Recommendations & GF Value Analysis
According to the consensus from 73 brokerage firms, Amazon.com Inc (AMZN, Financial) has achieved an average recommendation score of 1.7, categorizing it as "Outperform" on a scale where 1 indicates Strong Buy and 5 indicates Sell. Meanwhile, GuruFocus estimates suggest a GF Value of $189.47 for Amazon in one year, indicating a projected downside of 14.44% from its current price of $221.45. The GF Value reflects an assessment of what the stock should be trading at, based on its historical trade multiples, past performance, and future business estimates. Further information on this valuation is available on the Amazon.com Inc (AMZN) Summary page.
