Why Amazon Stock Is Rallying Again Today
Shares of Amazon (NASDAQ: AMZN) were rising again today, up as much as 4.3% by 10:11 a.m ET on Wednesday.
Amazon has had quite the rally over the past week or so, going from the low $80s to the mid $90s. Today's move came on the heels of an analyst maintaining its buy rating on shares. But additional optimism could be lingering from yesterday's "Buy With Prime" announcement and hopes for falling inflation in tomorrow's Consumer Price Index report.
On Wednesday, analysts at Cowen lowered their price target on Amazon from $160 to $140, but maintained their outperform rating on shares. While it's never nice to see an analyst slash a price target, this is pretty standard when the stock has materially diverged from prior target levels.
Source Fool.com
