Amazon Was Tagged as a Top Pick Today; Is It Now a Screaming Buy?

The holiday season is time for gift buying, spending quality time with family, and clearing snow from driveways in the colder parts of the world. It's also time for "best of" lists across a wealth of disciplines, stock market punditry included.

On Tuesday, one such pundit -- Bernstein Research -- named its "Best Idea for 2024" among all stocks, and the winner was Amazon (NASDAQ: AMZN). The giant retailer's stock bumped higher on the news, although not by much. Yet perhaps Bernstein's powerful optimism is justified, and the shares have more room to run.

In tagging Amazon as its No. 1 pick for the coming year, Bernstein reiterated its (no surprise) buy recommendation on the stock at a $175 per-share price target.

Source Fool.com