BofA analyst Justin Post raised the firm’s price target on Amazon.com (AMZN) to $230 from $225 and keeps a Buy rating on the shares. AWS growth decelerated 2 points quarter-over-quarter, which was in-line with the Street view at 17%, but may have missed higher expectations following Microsoft’s (MSFT) Azure acceleration, the analyst tells investors. The firm raised its Q2 revenue view by 2% to $163.4B, driven by higher retail revenue, while lowering its Q2 AWS growth view slightly to 16% and raising its Q2 profit forecast to $17.3B on higher AWS margins, the analyst noted.
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