RBC Capital analyst Brad Erickson raised the firm’s price target on Amazon.com (AMZN) to $240 from $230 and keeps an Outperform rating on the shares. The company had a mixed print and an even tougher conference call, the analyst tells investors in a research note. Positively, the retail business is firing on most if not all cylinders, but at AWS, growth didn’t really accelerate like peers, margins missed and management’s commentary on the call did little to attenuate investor fears that AWS may have a bigger structural issue in capturing its fair share of the growth from AI, RBC added.
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