BMO Capital raised the firm’s price target on Amazon.com (AMZN) to $304 from $300 and keeps an Outperform rating on the shares. The firm is citing its cloud expert calls with two former AWS employees, with the key takeaways from the discussions being the accelerating cloud commitments, Claude becoming the developer model of choice, and expectations of enterprise AI apps beginning to scale in 2027, the analyst tells investors in a research note. BMO is adjusting its model with higher assumed AWS growth of 24% vs. 23% prior.
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