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$3,800. That’s the newest and biggest share price target for Amazon shares (NASDAQ: AMZN).
The target price represents a 27% increase from the recent share price.
Yet smart investors could earn 10X bigger profits as Amazon shares continue to soar.
Go here for urgent details and the next Amazon Alert.
The new BUY recommendation on Amazon shares comes from Goldman Sachs (NYSE: GS).
Analyst Heather Bellini increased her share price target for from $3,000 to $3,800.
The $3,800 price target is the highest among Wall Street analysts.
Goldman now expects Amazon to generate revenues of $349.6 billion in 2020. Second-quarter e-commerce sales in North America are expected to soar 48%.
Amazon shares have been among the best-performing large-cap stocks in 2020. The stock has already posted gains of 67%.
Earn 270% Gains from Amazon on 2020 (go here ASAP)
Amazon is benefitting from two major growth trends.
First, the company is the most dominant e-commerce company in North America. The coronavirus pandemic is pushing more people to order goods online. And Amazon clearly benefits from the overall growth in e-commerce.
Second, the company is a major player in cloud computing. Amazon Web Services (AWS) provides cloud computing to businesses around the world. Growth in remote working is increasing demand for AWS and helping this part of the business.
Goldman isn’t the only firm that’s bullish on Amazon shares.
Needham & Co. last month issued a BUY recommendation and a $3,200 price target.
Longer-term, the firm thinks that Amazon shares could trade at $4,500 – $5,000.
Wall Street is clearly bullish on Amazon.
Yet smart traders know that there’s a better way to earn bigger profits.
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Yours in Health & Wealth,
Ian Wyatt