Amazon.com price target raised to $225 from $215 at Piper Sandler

Piper Sandler analyst Thomas Champion raised the firm’s price target on Amazon.com (AMZN) to $225 from $215 and keeps an Overweight rating on the shares. The company’s Q3 came in “better than feared,” with EBIT of $17.4B above the high-end of guidance while the Q4 guidance was also better, the analyst tells investors in a research note. The firms says that on the weaker side, Web Services growth did not continue to re-accelerate and advertising growth again missed estimates. Overall, Amazon.com’s margin thesis continues and should be a positive narrative shift on the margin front, says Piper. It views the stock’s valuation as compelling.