Mizuho raised the firm’s price target on Amazon.com (AMZN) to $260 from $240 and keeps an Outperform rating on the shares. The analyst believes the key themes for Amazon Web Services’ re:Invent-2024 are unlocking opportunity of launching generative artificial intelligence apps as the industry reaches an inflection point of proof of concepts moving to production. Given a positive view on cloud computing, Mizuho raised its fiscal 2025 AWS growth outlook to 21% from 19%.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMZN:
- ORCL Earnings: Oracle Stock Falls 7% as Results Miss Wall Street Targets
- Intuit, Amazon expand strategic partnership
- Advertising Stocks Fall on News That Omnicom (OMC) is Acquiring Rival Interpublic Group
- The Best E-Commerce Investment: Amazon, MercadoLibre, or Alibaba?
- Omnicom to acquire Interpublic, China to investigate Nvidia: Morning Buzz