JPMorgan raised the firm’s price target on Amazon.com (AMZN) to $280 from $265 and keeps an Overweight rating on the shares. The firm cites “elevated” Amazon Web Services demand and capacity expansion for the target boost. JPMorgan upped AWS estimates to reflect traditional workloads shifting to the cloud and greater AI adoption. It now projects AWS growth of 29% in Q1, 30% in Q2, 29% in Q3, 28% in Q4, followed by 26% growth in 2027. Amazon remains JPMorgan’s best idea idea.
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