Amazon.com price target raised to $285 from $265 at JMP Securities

JMP Securities raised the firm’s price target on Amazon.com (AMZN) to $285 from $265 and keeps an Outperform rating on the shares. Amazon reported solid results for Q3, beating estimates on both top and bottom lines, though Q4 net sales guidance was just below consensus and Q4 operating income guidance beat expectations by 4% and margins by 40 basis points, the analyst tells investors in a research note. The firm continues to believe Amazon is the stock to own within e-commerce given its wide selection of non-discretionary items, its large and growing advertising business, and AWS’s exposure to AI.