Loop Capital raised the firm’s price target on Amazon.com (AMZN) to $285 from $275 and keeps a Buy rating on the shares after its Q4 earnings beat last week. The firm is confident that its bullish thesis is playing out and still has meaningful upside ahead, and while its bullish outlook for AWS is a consensus opinion, the accelerated cloud migration and new use-cases driven by genAI is a massive, multi-year growth cycle that should continue to drive shares higher, the analyst tells investors in a research note.
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