Truist analyst Youssef Squali lowered the firm’s price target on Amazon.com to $142 from $160 but keeps a Buy rating on the shares. The company’s Q4 results exceeded expectations as strong e-Commerce growth was offset by softer performance at AWS, the analyst tells investors in a research note. The firm notes however that the AWS headwinds are expected to be temporary, and given the power of Prime, AWS leadership, rapidly growing ad business, and the new Buy with Prime, Amazon looks to be "best positioned" to continue riding these multiple secular growth trends.
Published first on TheFly
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