KeyBanc analyst Justin Patterson lowered the firm’s price target on Amazon.com (AMZN) to $285 from $308 and keeps an Overweight rating on the shares. The firm says Amazon’s Q4 results continued the theme of large-capitalization earnings season regarding materially investing capex to meet a large potential demand pool of AI workloads. The near-term effect is clear, with EPS growth being reduced and free cash flow remaining depressed. While this causes KeyBanc to lower its price target the firm still sees attractive long-term returns from AWS and optionality on Amazon Leo monetization.
Claim 30% Off TipRanks
Forget margin or options. Here's how the pros trade AMZNPublished first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMZN:
- Amazon says to ‘vigorously challenge’ conclusion of Germany’s FCO
- Amazon.com price target lowered to $300 from $315 at Morgan Stanley
- Amazon.com downgraded to Neutral from Buy at DA Davidson
- German cartel office bans Amazon from using price controls
- MSFT vs. AMZN vs. GOOGL: Which Is the Top ‘Strong Buy’ Hyperscaler Post Earnings?