Needham & Company reiterates Buy rating on Amazon, raises estimates
On Thursday, Needham & Company reaffirmed its buy rating on Amazon (NASDAQ:AMZN) and maintained its price target on the stock at $205. The firm has increased its profit estimates for the e-commerce giant for fiscal year 2024 (FY24), citing a shareholder letter from CEO Andy Jassy, which indicated a focus on cost-cutting measures in Amazon\’s inbound fulfillment and inventory placement.