When Prime Day begins, Jim Kramer is slamming the table on Amazon Stock
Famous investor Jim Kramer praises Amazon (AMZN) as the e-commerce giant launched its Prime Day annual sales event scheduled for July 8th.
The shopping marathon runs until July 11th and offers special discounts to Prime members on millions of products, from electronics to everyday items.
At the time of writing, Amazon’s stock is well above 30% against the previous year’s low set in late April.
Cramer considers Amazon to be “the most inflation combat company on the planet.” Prices offered for the most diverse products of the week rival those before the Covid-19 pandemic.
It makes sense to use pre-pandemic levels as a benchmark, as the global health crisis led to a sharp surge in inflation a few years later.
On “Squawk on the Street,” the former hedge fund manager agreed that Amazon’s stocks haven’t done much in 2025, but he recommended that investors still stick to AMZN for the long term.
Prime Day could serve as a much-needed catalyst for AMZN shares as Mega-Sale is expected to increase by 60% year-on-year to $21.4 billion this year.
Prior to the shopping marathon, Wells Fargo repeatedly rated Amazon stocks “equal weights” but raised its price target to $238.
According to Ken Gawrelski, a senior analyst at the company, Amazon brings consistent growth across its core segments (ecommerce, advertising, and cloud computing).
Investors may be harboring the heart of the fact that Wells Fargo is one of the more conservative companies in AMZN stock, despite the upward revision.
According to BarChart, the Amazon stock consensus rating is actually currently located in “Strong Buy.” The average target is around $245, indicating a potential rise of around 12% from here.
On the date of publication, Wajeeh Khan had no position (directly or indirectly) in any of the securities mentioned in this article. All information and data in this article is for informational purposes only. This article was originally published barchart.com