DA Davidson raised the firm’s price target on Amazon.com (AMZN) to $300 from $265 and keeps a Buy rating on the shares. The company’s strong Q3 earnings were primarily underscored by a notable reacceleration in Amazon Web Services that beat expectations as it also marked the first quarter since 2022 that AWS grew over 20% Y/Y, with management noting they’re seeing strength across core hyperscaler services and AI-services and are focused on adding additional compute capacity onto AWS in the near future, the analyst tells investors in a research note.
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