Goldman Sachs Hikes Amazon Stock Price Target

Amazon stock (NASDAQ: AMZN) opened Tuesday’s trading session at $278 and has been range-bound this week. It had a good run from July to August, surging close to 13% in a month. The leading e-commerce giant is looking to climb above $300, but is facing resistance in the $285 range. However, several Wall Street analysts have predicted that AMZN could close well above the $300 zone by the end of August. This makes the equity lucrative, as strategists remain bullish on its prospects.

On the heels of the recent price grind, leading global investment bank Goldman Sachs has upgraded its price target for Amazon stock. According to the price prediction, AMZN could surge by double digits and deliver robust gains to traders. Taking an entry position at the $270 zone could still be beneficial to investors. This makes the e-commerce giant a must-watch equity, as the upside potential remains immense. The tech sector is on the uptick in Q3 and has recovered from most of its losses.

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