Amazon.com price target raised to $240 from $210 at Cantor Fitzgerald

Cantor Fitzgerald analyst Deepak Mathivanan raised the firm’s price target on Amazon.com (AMZN) to $240 from $210 and keeps an Overweight rating on the shares. Amazon’s Q3 results were “completely opposite” to expectations “in a good way,” with Q3 EBIT well above, but AWS slightly below, the analyst tells investors in a research note. The fundamentals of the core retail business remain strong, which is critical for sustained margin expansion and positive EBIT revisions, the firm says.