Truist raised the firm’s price target on Amazon.com (AMZN) to $290 from $270 and keeps a Buy rating on the shares. Strong Q3 results and Q4 guide reflect broad-based strength across the company’s businesses, with AWS being a particular standout with growth accelerating sequentially and eclipsing 20% for the first time since 2022, the analyst tells investors in a research note. The company is investing aggressively in AI and is building out capacity to satiate the significant demand it’s currently seeing, the firm added.
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