Amazon.com price target raised to $265 from $215 at Benchmark

Benchmark raised the firm’s price target on Amazon.com (AMZN) to $265 from $215 and keeps a Buy rating on the shares ahead of what the firm previews “should be another share-gaining, strong 4Q24 earnings on Thursday after the close.” The firm’s concerns into the print stem from a combination of “extremely elevated sentiment” and significant sell-side enthusiasm around the continued trajectory for operating income margins, especially in Q1, says the analyst, who adds that the firm still firmly believes in the long-term trajectory for Amazon. If the concerns proved accurate, “we would be buyers on any dip,” the analyst tells investors.