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Amid a choppy market, it is a tough job for an investor to navigate the trend accurately. But investors can seek consistent returns by snapping up some attractive names with strong fundamentals and solid growth opportunities at reasonable levels.
Amazon(AMZN).
Analysts reaffirmed a buy rating and increased the Amazon stock price forecast to $255 from $250. Related survey of nearly 700 U.S. consumers in mid-/late June indicated that Amazon remains resilient despite price increases related to tariffs, with stable spend levels if pricing on other websites becomes more expensive.
Analysts also noted that although 80% of the respondents are concerned about prices, the survey reflected a stable spending pattern by most Amazon shoppers (62% spent the same or more in the past three months). However, the survey noted some cost-conscious behavior, as 31% spent less in the past three months.
Analysts highlighted that the survey also reflected that Amazon Prime remains the most popular membership and a major loyalty driver for the company. Notably, 73% of respondents reported having a Prime membership, compared to 26% for rival Walmart. Also Amazon’s superior positioning on fast and free shipping, selection as well as low prices are the key points that appeal more consumers.
The analyst said that given the heightened focus on prices, Amazon’s Prime Day event could turn out to be more popular and impactful by running for four days instead of two across 20 countries. Expects the event to result in incremental Prime memberships, particularly among students and young adults ages 18 to 24 via six-month extended free trials.Complete digital access to quality Glebors financial topic with expert analysis from industry leaders.
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