Piper Sandler raised the firm’s price target on Amazon.com (AMZN) to $300 from $255 and keeps an Overweight rating on the shares. The firm notes Q3 results were better than expected and above negative buyside sentiment. AWS accelerated to +20% year-over-year with meaningful power capacity coming online and set to double again by 2027. Op income excluding $4.3B in one-time charges was above the high end of guidance. Piper says Amazon remains relentless on lowering cost to serve and appears on the cusp of an AI product cycle.
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