Maxim analyst Tom Forte raised the firm’s price target on Amazon.com (AMZN) to $260 from $251 and keeps a Buy rating on the shares. The company’s Q3 sales and EBIT topped estimates, and the quarter was the 6th consecutive quarter of at least 298bps of margin expansion driven by management’s aggressive expense control efforts and mix shift to cloud, the analyst tells investors in a research note. Amazon.com shares currently trade at an enterprise value to expected EBITDA multiple of 13-times the firm’s 2025 forecast, a discount to the big-tech peer average of 32.1-times, Maxim added.
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