Amazon's stock received a slew of upgrades from Wall Street analysts on Friday after delivering market-beating earnings.
On Thursday, the e-commerce giant reported fourth quarter revenues that beat expectations with the Amazon Web Services (AWS) cloud division helping to propel numbers.
Amazon shares closed at $1,390 on Thursday, but after hours shares popped over 5 percent.
A number of analysts raised their price target for Amazon shares. Here are some of the biggest moves:
- Morgan Stanley raised its target to $1,500 from $1,400
- Barclays upped its price target to $1,580 from $1,210
- Credit Suisse raised its price target to $1,750 from $1,410
- Mizuho raised its price target to $1,700 from $1,300
- J.P. Morgan raised its price target to $1,650 from $1,385
- Bank of America Merrill Lynch raised its price target to $1,650 from $1,460.
Amazon forecast that its operating income for the first quarter of 2018 would be between $300 million to $1 billion, below the $1.5 billion street consensus, likely indicating heavier investments going forward. But this did not worry analysts.