UBS analyst Stephen Ju raised the firm’s price target on Amazon.com (AMZN) to $333 from $304 and keeps a Buy rating on the shares. Amazon reported AWS revenue growth of 28% year over year, below prior expectations, but this was offset by a sharp increase in performance obligations and backlog, which nearly doubled to $364B in Q1 and is expected to approach $450B in Q2 with incremental contribution from Anthropic, the analyst tells investors in a research note.
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