Bernstein raised the firm’s price target on Amazon.com (AMZN) to $235 from $225 and keeps an Outperform rating on the shares post the Q3 report. The firm says the company’s Web Services revenue growth came in a bit slower than expected after more constructive peer reports. However, Bernstein remains constructive on Amazon’s Q4 sales as it expects AWS and Advertising to accelerate into year-end.
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