Oppenheimer raised the firm’s price target on Amazon.com (AMZN) to $290 from $245 and keeps an Outperform rating on the shares following quarterly results. The firm notes AWS Q3 revenue growth accelerated to +20% year-over-year vs. Q2’s +17% and “gaining momentum.” AWS commentary was more bullish than in Q2, with most of the call focused on cloud, AI and chips.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMZN: