Bernstein analyst Mark Shmulik raised the firm’s price target on Amazon.com (AMZN) to $265 from $235 and keeps an Outperform rating on the shares. The firm also names the stock its “2025 Best Idea”. Bernstein notes that in Retail, Amazon’s operating margin inflection continues thanks to regionalization efforts along with further efficiencies from fulfillment network, and in AWS, the company’s operating margins are set to follow revenue strength with expansion above 30% on supply constraints and cost controls. Bernstein adds that Amazon’s Prime Video is estimated to post about $800M in Q4 EBIT contribution, which is going up to $4B-$5B by 2026.
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