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

Wedbush raised the firm’s price target on Amazon.com (AMZN) to $280 from $260 and keeps an Outperform rating on the shares ahead of the Q4 report on February 6. The firm is constructive on the share setup ahead of the report, citing a “strong” holiday in the U.S. and Amazon’s continued efficiency gains within its core retail business. This should drive upside to margin expectations despite near-term currency headwinds, the analyst tells investors in a research note. Wedbush increased its Q4 operating income estimate to $20.7B from $19.9B, which is is 9% ahead of the Street. Amazon is positioned to outperform expectations again in 2025, contends Wedbush. The firm thinks investors are “overly conservative” on Amazon’s 2025 margin potential.