RBC Capital lowered the firm’s price target on Amazon.com (AMZN) to $230 from $235 and keeps an Outperform rating on the shares. The biggest positives of the company’s Q1 results were strong AWS backlog step up from Q4, with second-half capacity finally opening the door for potential acceleration, and tariff impact generally seen as “at bay” for now, the analyst tells investors in a research note. Ads growth also held up well in spite of another slight 3-point miss, RBC added.
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