Deutsche Bank analyst Lee Horowitz raised the firm’s price target on Amazon.com (AMZN) to $232 from $225 and keeps a Buy rating on the shares post the Q3 report. With investor concerns around a softer Q4 operating income guide from Amazon well-articulated heading into Q3 earnings, the company surpassed profitability expectations with the low end of the Q4 guide of $16bB around where investors thought the high end could come in, the analyst tells investors in a research note.
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