Wall Street's Average Amazon Price Target Sits 34% Above the Stock -- 4 Days Before Its Earnings.
The market keeps marking the stock down. The analysts covering it keep saying it belongs somewhere much higher.
Overview
Amazon (NASDAQ: AMZN) reports second-quarter results on Thursday, July 30. It heads into that report in a strange position. The market keeps selling the stock, and Wall Street keeps insisting it's worth far more.
Shares fell about 4.6% on Thursday to $233.66, even though Amazon itself reported nothing. The stock now sits about 16% below its 52-week high of $278.56.
Details
Yet the average analyst price target is about $313 as of this writing (roughly 34% above the current price), and the consensus rating among analysts is a strong buy.
Source
Originally published at www.fool.com.
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