Raymond James lowered the firm’s price target on Amazon.com to $200 from $205 and keeps a Strong Buy rating on the shares. Amazon’s net sales were 25 basis points shy of consensus ex-FX and Q3 guidance was also light, but the bigger surprise was the perceived Q3 EBIT guidance with the top end slightly below the Street due to Prime Day and Q4 fulfillment ramp, the analyst tells investors in a research note.
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