Why 1 Wall Street Analyst Thinks Amazon Stock Will Soar 30% Over the Next 12 Months
This won't come as a shocker, but Amazon (NASDAQ: AMZN) continues to make shareholders happy. The stock has been a massive winner since its IPO in May 1997. But Amazon's impressive performance isn't just (relatively) ancient history. Its shares have skyrocketed 45% over the last 12 months.
Will this momentum fizzle? Maybe not. Here's why one Wall Street analyst thinks Amazon stock will soar another 30% over the next 12 months.
Evercore ISI has been bullish about Amazon for a long time. The last time the investment bank downgraded the stock was in June 2015 from a "buy" to a "hold." Two months later, the firm upgraded Amazon to a "buy" once again. In December 2017, Evercore rated the stock as an "outperform" and has stuck with that rating ever since.
Source Fool.com
