Needham raised the firm’s price target on Amazon.com (AMZN) to $300 from $265 and keeps a Buy rating on the shares. The firm cites the company’s better than expected Q1 results while noting that its hardware and business mix are competitive advantages. Amazon’s hardware assets like chips differentiate AWS and lower its costs, while its rapid growth in backlog improves revenue visibility, the analyst tells investors in a research note.
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