Truist analyst Youssef Squali raised the firm’s price target on Amazon.com to $176 from $144 and keeps a Buy rating on the shares. The company’s earnings beat and guidance raise were “impressive”, with Amazon.com showing that it continues to gain share within North America’s eCom and Digital Ad markets, while achieving record gross margins as it drives greater operational efficiencies, the analyst tells investors in a research note. AWS growth also seems to have troughed in April and is showing signs of stabilization, the firm adds.
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