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.
Claim 55% Off TipRanks
Forget margin or options. Here's how the pros trade AMZNPublished first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMZN:
- Amazon.com price target raised to $300 from $280 at Canaccord
- Amazon.com price target raised to $320 from $270 at Citi
- Amazon’s Strategic Capital Reallocation and Strong Financial Performance Justify Buy Rating
- Amazon.com price target raised to $300 from $285 at Citizens JMP
- Amazon.com price target raised to $300 from $275 at Barclays