Loop Capital raised the firm’s price target on Amazon.com (AMZN) to $275 from $225 and keeps a Buy rating on the shares. The company’s Q3 beat and guidance raise were “solid”, its AI opportunity for AWS appears open-ended, and the AI-related revenue is ramping quickly, the analyst tells investors in a research note. The positive fundamental backdrop for the cloud business is also widely understood by investors, while the retail business has much more earnings power than the Street recognizes, Loop adds.
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