Wells Fargo raised the firm’s price target on Amazon.com (AMZN) to $305 from $304 and keeps an Overweight rating on the shares. The firm sees unchanged 2026 CapEx guide and accelerating AWS revenue driving positive free cash flow revisions, first time in last four quarters. Wells notes Amazon remains top Internet pick for 2026 given topline acceleration and attractive valuation of 21 times 2027 GAAP price to earnings.
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