Amazon.com price target raised to $250 from $230 at JPMorgan

JPMorgan analyst Doug Anmuth raised the firm’s price target on Amazon.com (AMZN) to $250 from $230 and keeps an Overweight rating on the shares. Amazon reported strong overall results with upside to both revenue and operating income across Q3 and the Q4 outlook, the analyst tells investors in a research note. The firm believes the company’s low price everyday essentials can be equally or even more profitable than other items when ordered at high volume and running through Amazon’s same-day delivery network, which continues to reduce cost-to-serve. Amazon remains JPMorgan’s best internet idea.