Amazon.com price target raised to $235 from $225 at Wedbush

Wedbush raised the firm’s price target on Amazon.com (AMZN) to $235 from $225 and keeps an Outperform rating on the shares. The firm says Amazon reported healthy Q1 results as revenue was in line with consensus, while operating income was 5% ahead of expectations. The company delivered a strong profit beat in the quarter, but guidance for Q2 growth and operating income were mixed, as management contemplates a broader range of outcomes given macro uncertainty and the potential tariff implications on the business, Wedbush notes. Still, the firm expects there is some conservatism embedded in management’s outlook, as the company has outperformed the high end of its operating income guide in each of the last 9 quarters.