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Benzinga

Business

Anusuya Lahiri

Another Analyst Gets Cautious On Amazon After BNP Paribas

Amazon Barton Crockett Amazon.com Inc. Nasdaq Rosenblatt

Rosenblatt analyst Barton Crockett initiated coverage of Amazon.com Inc (NASDAQ:AMZN) with a Neutral rating and a $3,000 price target (5% downside).
Crockett saw inflation hurting retail sales.
Also Read: Here's Why This Analyst Is Cautious On Amazon
Crockett did not see Amazon's core business in online stores and third-party services recover growth after faltering in late 2021.
Crockett contended that the post-pandemic consumer rotation to services from goods could be long-lived, and Amazon's rivals have upped their retail game considerably.
Price Action: AMZN shares closed higher by 3.49% at $3,162.31 on Tuesday.

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