UBS analyst Stephen Ju raised the firm’s price target on Amazon.com (AMZN) to $310 from $279 and keeps a Buy rating on the shares. Amazon’s long-anticipated revenue acceleration is materializing, with AWS growing 20% year over year in Q3, the clearest payoff yet from prior investments, the analyst tells investors in a research note. Strong October deal activity positions backlog to surpass $240B by year-end, while robust Trainium demand and new Nvidia-powered UltraServers counter concerns over Amazon’s AI hardware capabilities. The “coiled spring” thesis is now playing out as growth momentum takes hold, UBS contends.
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