Amazon.com price target raised to $250 from $235 at Wedbush

Wedbush analyst Scott Devitt raised the firm’s price target on Amazon.com (AMZN) to $250 from $235 and keeps an Outperform rating on the shares ahead of quarterly results. The firm is constructive on the setup ahead of the report given encouraging U.S. retail data, healthy advertiser sentiment, strong AWS demand, and continued efficiency gains across the business that should drive upside to margin expectations. Investor sentiment is broadly positive, with expectations improving in recent weeks following a disappointing Q2 guide that was delivered in early May. Still, profitability forecasts for the year remain depressed as investors weigh the impact of tariff/macro uncertainty, currency risk, rising expenses to support AI initiatives, and an uncertain cost trajectory associated with Project Kuiper, Wedbush adds. The firm thinks the risk/reward is attractive, and it sees an opportunity for Amazon to deliver upside to current operating income expectations.