Goldman Sachs raised the firm’s price target on Amazon.com (AMZN) to $240 from $230 and keeps a Buy rating on the shares. The company reported “solid” Q3 results with revenue slightly above forecasts driven by faster growth in Online Stores and Subscription Services, the analyst tells investors in a research note. The firm says Amazon will “compound a mix of solid” consolidated revenue growth and operating margin expansion on a multi-year view while also making critical investments in long-term growth initiatives.
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