Oppenheimer raised the firm’s price target on Amazon.com (AMZN) to $230 from $220 and keeps an Outperform rating on the shares. Amazon reported a significant EBIT beat for Q3, led by ecommerce and AWS, disproving bears’ claims that ecommerce margins are plateauing, the analyst tells investors in a research note. CEO Jassy was also bullish on the long-term leverage opportunity from AWS investments in AI and lower cost-to-serve, Oppenheimer says.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMZN:
- Amazon.com price target raised to $260 from $251 at Maxim
- Amazon price target raised to $215 from $200 at Benchmark
- Amazon.com price target raised to $236 from $221 at Rosenblatt
- Amazon.com price target raised to $240 from $230 at TD Cowen
- Amazon.com price target raised to $230 from $220 at Susquehanna