Canaccord raised the firm’s price target on Amazon.com (AMZN) to $300 from $280 and keeps a Buy rating on the shares. The firm said they reported solid Q3 results, with revenue 1% above consensus and OI solidly ahead of expectations after excluding 1T expenses related to an FTC settlement and severance costs. In what was a pivotal quarter for AWS amidst rising investor concerns over the business lagging in AI-centric workloads, AWS saw growth accelerate roughly 270 bps quarter-pver-quarter to north of 20%, representing the segment’s largest growth rate in eleven quarters.
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