Amazon.com price target raised to $270 from $265 at Truist

Truist raised the firm’s price target on Amazon.com (AMZN) to $270 from $265 and keeps a Buy rating on the shares. The company’s Q3 results were ahead across the board with particular strength in International growth and profitability as well as a material step up in margins in North America Stores & AWS, the analyst tells investors in a research note. Amazon’s AI investments are pushing capex up to $75B this year and $90B in 2025, but the management has earned the right to invest aggressively ahead of this massive opportunity, the firm added.