Amazon.com price target raised to $175 from $173 at Stifel

Stifel raised the firm’s price target on Amazon.com (AMZN) to $175 from $173 and keeps a Buy rating on the shares. The firm has revised its digital advertising growth expectations for the year as it now sees digital growth of 8.0% year-over-year versus a prior call for 7.2% growth, but still expects a “modest environment” for e-commerce, the analyst tells investors in a 2024 internet outlook and Q4 preview note. The firm’s top picks in the group to start 2024 are Amazon and Meta (META), the analyst noted.