Amazon.com price target raised to $280 from $260 at Maxim

Maxim raised the firm’s price target on Amazon.com (AMZN) to $280 from $260 and keeps a Buy rating on the shares. The company’s Q4 results saw sales above consensus and at upper end of the guidance range and AWS sales growth of 18.9%, which was roughly in-line, even though growth modestly decelerated for the first time after 5 quarters of acceleration, the analyst tells investors in a research note. Maxim adds however that Q1 guidance was “weak”, noting that after multiple years of aggressive cost-cutting, a lot of “low-hanging fruit” has been picked, and future margin expansion may depend to a greater extent on revenue mix.