BMO Capital raised the firm’s price target on Amazon.com (AMZN) to $280 from $270 and keeps an Outperform rating on the shares. The company’s Consumer Retail demand was strong, despite macro uncertainty, as Online Stores and 3rd Parth Seller Services both grew 11% y/y, the analyst tells investors in a research note. BMO adds that AWS’s growth of 17% was also solid, despite elevated expectations, though capacity constraints remain a headwind for “several quarters”.
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