i_SVG Created with Sketch.

Capital Markets Elite Group is not a registered U.S. broker-dealer. It does not accept a U.S. Person as a client if that person was solicited by Capital Markets Elite Group. (The definition of “U.S. Person” is here.) Capital Markets Elite Group will rely on a certification from a potential customer that the potential customer either is not a U.S. Person or has not been solicited, directly or indirectly, by Capital Markets Elite Group and has not been induced by Capital Markets Elite Group to engage in securities transactions. In particular, they must certify that they were directed to this website by someone other than Capital Markets Elite Group. They must also certify that they understand that they will not be protected by U.S. laws, regulations and supervisory structures applicable to broker-dealers registered in the U.S. and they do not expect such protections to apply. You should give these certifications only if they are true. If you wish to proceed to the website knowing that, please click “Continue” below. Otherwise click “Leave Website”

Leave Website
CPro $0 Commission | $0 ECN Fees Promotion for the period 04th November 2024 - 31st January 2025. Click here for Terms and Conditions.

Cash Back Promotion for the period 16th September 2024 - 15th December 2024. Click here for Terms and Conditions.

Level Up to $0 Commission Promotion for the period 16th September 2024 - 15th December 2024. Click here for Terms and Conditions.
Start Trading
Equities and ETFsOptions
CProCAP it ALLDAS Trader ProSterling Trader ProCompare Platforms
Pricing StructureEquities and ETFsOptionsMarket DataTrade Ideas Bundles
About UsTrends and InsightsContact UsFAQs
Start Trading Login
Amazon Upgraded Ahead of Earnings

Amazon Upgraded Ahead of Earnings.

Oct 24, 2023 | About 3 Minutes

According to an analyst, Amazon.com stock remains a favorable investment after experiencing substantial gains this year. The analyst highlighted the company's cloud business and retail sales performance as key factors for this positive outlook. On Tuesday, Seaport Research Partners analyst Aaron Kessler initiated coverage of Amazon (AMZN) with a Buy rating and a $145 price target. This price target suggests a 15% increase from the stock's closing price on Monday. Notably, this bullish rating comes just before the report of the company's earnings for it's third-quarter. As of Tuesday, Amazon's stock was up 0.8% to $127.59, reflecting a 52% surge in value this year. Kessler expressed confidence in Amazon Web Services, the company's cloud computing platform for businesses, as a driving force behind his optimistic stance. Additionally, Kessler expects steady growth in e-commerce retail, particularly in essential categories such as beauty, health, and personal care. Despite consumers facing challenges from inflation and interest rates, Amazon continues to witness strong demand, although customers are increasingly focused on value when making purchases. Furthermore, Kessler anticipates advertising strength in 2024 as Prime Video plans to introduce advertisements. Subscribers will have the option to pay an extra $2.99 per month to enjoy an ad-free experience. "We estimate Advertising revenues of $45B/$52B in 2023/2024, representing growth of 19%/16%," said Kessler. "Additionally, Amazon continues to introduce new ad offerings, and we are optimistic about the launch of Prime Video ads in early 2024, which should sustain solid advertising momentum.

This content is provided for general information purposes only and is not to be taken as investment advice nor as a recommendation for any security, investment strategy or investment account.