JPMorgan analyst Doug Anmuth raised the firm’s price target on Amazon.com to $145 from $135 and keeps an Overweight rating on the shares. Web Services revenue decelerating from 16% in Q1 to 11% in April was all it took to reverse the stock’s after-market gains, the analyst tells investors in a research note. However, the 16% was far more of a surprise than the 11%, and the deceleration is roughly in-line with what Microsoft indicated for Azure a few nights ago, says the firm. It believes Amazon posted overall positive results and "had many good things to say."
Published first on TheFly
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