Evercore ISI analysts reasserted an Outperform rating for Amazon (NASDAQ:AMZN) with a price target of $190.00. The firm’s analysis highlighted the recent 15% decline in Amazon shares, attributing it to various macroeconomic, market, and company-specific factors.

The analysts view this drop as an attractive opportunity for investors to enter or add to their positions in Amazon. The analysts emphasized Amazon’s potential as a classic long-term investment, particularly with an appealing Triple Trough 2023 setup that includes a low valuation multiple, improved margins, and revenue growth.

The analysts also mentioned that recent reports on Amazon’s advertising and cloud segments, along with an examination of Amazon Prime Video’s advertising revenue potential, have strengthened their confidence in the stock.

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