He also hiked his price target to $92 from $59, suggesting shares rallying 48.3% from where they closed on Tuesday.
Analyst Jessica Reif Ehrlich raised her price target to $370 from $315, suggesting 22% upside from Tuesday's close.
— Hakyung Kim 6:04 a.m.: Citi raises price target on Amazon Amazon is becoming a more profitable organization, according to Citi.
The price target increase comes on the heels of Amazon's new grocery delivery subscription launch.
He cited increased operating income projections amid strong top-line trends for his price target increase.
Persons:
Tesla, Rob Sanderson, Sanderson, Forrest Li, Hakyung Kim, Jessica Reif Ehrlich, — Hakyung Kim, Ronald Josey, Josey, GenAI, Kim, Goldman Sachs, Mark Delaney, Delaney, Goldman, Joseph Spak, Spak, TSLA, Wells Fargo's Colin Langan, Langan, James Lee, Lee, Fred Imbert
Organizations:
CNBC, Mizuho, Bank of America, Spotify Bank of America, Spotify, Citi, Amazon Web Services, Revenue, UBS, Summer