Bernstein raised the firm’s price target on Amazon.com (AMZN) to $300 from $250 and keeps an Outperform rating on the shares following quarterly results. The firm notes this was a solid quarter top to bottom for Amazon with very few nitpicks. Revenues came in above expectations up +13% year-over-year at $180B with Q4 revenue guidance stable at 10%-13% year-over-year, calming fears of a softer retail market, Bernstein adds.
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