Jeff Bezos, founder of Amazon and Blue Origin speaks during the JFK Space Summit, celebrating the 50th anniversary of the moon landing, at the John F. Kennedy Library in Boston, June 19, 2019.
Katherine Taylor | Reuters
Two Wall Street analysts are betting big on Amazon‘s quarterly report later this week by hiking their price targets on the e-commerce giant.
Deutsche Bank analyst Lloyd Walmsley raised his 12-month price target on Amazon to $2,515 per share from $2,315. Walmsley’s new price target implies a 28% upside for Amazon and is one of the five highest among analysts, according to FactSet. KeyBanc Capital Markets analyst Edward Yruma also raised his price target to $2,200 per share from $2,100, implying an upside of nearly 7% from Friday’s close.
Shares of Amazon, which reports after the bell on Thursday, closed at $1,964.52 per share on Friday. The stock rose 0.5% in the premarket Monday.
Walmsley and Yruma think Amazon’s results will be so good that they don’t want to wait until…