Amazon shares are poised to resume their gains after a rough start to 2024, putting the stock on track for a long-awaited return to record high levels posted more than two years ago.

That, at least, is the view among analysts, with some 97 per cent of those tracked by Bloomberg recommending the cloud-computing and e-commerce giant’s shares. Bank of America, Citigroup, Deutsche Bank, Goldman Sachs Group and JPMorgan Chase & Co are among firms naming it their top e-commerce or internet stock for 2024, while Oppenheimer and Roth MKM crowned it their favourite large-cap choice.

Bloomberg