Club holding Amazon (AMZN) is a stock to own going into 2024, with the ecommerce giant poised for further profitability, according to Bernstein Research — a view we enthusiastically share.
Bernstein on Tuesday named Amazon its "best idea" in the internet space for 2024, citing acceleration in its cloud business, cost discipline, digital advertising growth, and its continued leadership in ecommerce.
The firm has an outperform rating on Amazon stock, with a price target of $175 a share.
Amazon stock closed up 1.4% on Tuesday, to settle at $146.88 a share.
AMZN YTD mountain Amazon stock performance year-to-date.
Persons:
Bernstein, Jim Cramer, Jim, he's, Amazon's, Jim Cramer's, Omar Marques
Organizations:
Bernstein Research, CNBC, Lightrocket, Getty
Locations:
ecommerce