- Monness Crespi analyst Brian White notes Amazon.com Inc AMZN shares have trailed this year's "healthy market rally" after a strong stock performance in 2020, but after having attended AWS re: Invent earlier December 2021, he views that Amazon is "uniquely positioned to exit this crisis as one of the biggest beneficiaries of accelerated digital transformation."
- White notes that AWS CEO Adam Selipsky pointed out that AWS now has 84 availability zones across 26 geographic regions and offers over 200 fully-featured services while serving millions of customers, believes "the company's fortunes are poised to change in 2022."
- White has a Buy rating on Amazon.com with a price target of $4,500, implying a 31.5% upside.
- Price Action: AMZN shares traded higher by 0.42% at $3,435.75 in the premarket session on the last check Monday.
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