Benchmark raised the firm’s price target on Amazon.com (AMZN) to $270 from $265 and keeps a Buy rating on the shares. Shares traded down about 5% in after-hours last night after the company missed on the Q1 guidance and the firm does not think the AWS commentary was received favorably either, but assuming consensus revenue expectations are appropriately reset and that margins remain largely where they were, coupled with commentary that AWS supply constraints could ease in the second half of 2025, the firm thinks “the rest of the year sets up fairly nicely for Amazon, and we would be buyers on the dip,” the analyst tells investors.
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