Goldman Sachs Lowers Amazon ($AMZN) Price Target to $230; JPMorgan Cuts to $230 After Q2 2024 Earnings

Goldman Sachs has reduced its price target on Amazon ($AMZN) to $230 from $250 while maintaining a Conviction Buy rating. This adjustment follows Amazon's Q2 2024 earnings report, which showcased solid results, including consolidated operating income exceeding expectations. In addition to Goldman Sachs, JPMorgan also lowered its price target for Amazon to $230 from $240 while keeping its Overweight rating. Conversely, several firms have raised their price targets for Amazon: JMP Securities increased its target to $245 from $225, Barclays raised it to $235 from $220, and Roth/MKM adjusted it to $215 from $210. Citi maintained its target at $245, and Susquehanna kept its target at $220, both rated as Buy.