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Why Goldman Sachs Thinks Amazon Could Continue to Rally

Sean Allen
Why Goldman Sachs Thinks Amazon Could Continue to Rally

CNBC cited Goldman Sachs as saying that Amazon (AMZN) stock could continue to rise and “easily” reach $1,800 to $1,900 this year. The investment bank says that the estimates for the e-commerce giant’s cloud and retail businesses are “too low.” The $1,900 price target for Amazon’s stock suggests upside potential of 26.0% above Tuesday’s close of $1,497.01. Amazon Web Services generated revenue of nearly $17.5 billion in 2017.