Why Amazon Stock Popped on Thursday
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Shares of Amazon (AMZN) surged on Thursday, gaining up to 3.8% after two major catalysts: an ‘overweight’ rating from Cantor Fitzgerald with a target price indicating a potential 33% upside, and AWS securing Central Japan Railway as a client to enhance its operations. Analyst Deepak Mathivanan highlighted strong opportunities for Amazon in retail and AWS, noting a 19% sales growth for AWS in Q2. The company’s market position and expansion potential bolster its attractiveness, with a price relative to sales below industry averages.
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