Wells Fargo analyst Ken Gawrelski raised the firm’s price target on Amazon.com (AMZN) to $292 from $280 and keeps an Overweight rating on the shares. The firm says Q3 results delivered, with AWS acceleration to +20%, ahead of +19% buyside bogeys, and clean Retail quarter. Wells sees visibility for further AWS acceleration in Q4 from capacity additions. Further, the firm sees favorable near term event path.
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