Amazon.com price target raised to $250 from $240 at Citizens JMP

Citizens JMP analyst Nicholas Jones raised the firm’s price target on Amazon.com (AMZN) to $250 from $240 and keeps an Outperform rating on the shares. Amazon reported solid top-line results, while operating income and margin were better than expected, and net sales guidance for Q2 was in line with consensus, though operating income and margin came in below expectations, the analyst tells investors in a research note. Citizens does not view Amazon’s results and commentary as thesis-changing and continue to believe its exposure to consumer staples, strong performance in its advertising business, and its cloud business with exposure to AI should drive market share gains across its respective segments regardless of the macro environment.