Amazon is an interesting stock to buy after a correction

Amazon is one of the largest e-commerce sellers in the world. The company sells its own products and provides services to third-party sellers to sell their goods. Amazon is also a major player in cloud solutions, owns the popular streaming platform Twitch, creates its own electronics and makes shows and movies for its Amazon Prime Videos subscription service.

The significant decline in Amazon's stock price in recent weeks has made it attractive again. This year, the company's capitalization has come under pressure from slower revenue growth and deteriorating profitability. Finam experts believe that next year, efficiency improvement initiatives coupled with control over capital expenditures will allow the company to improve its profitability and return free cash flow to positive values.

Finam analysts maintain their target price for Amazon stock at $99.24, but upgrade the rating from "Hold" to "Buy" for December 2023. The upside potential is 16.4%.