UBS raised the firm’s price target on Amazon.com to $198 from $180 and keeps a Buy rating on the shares following quarterly results. Overall, the overhangs which kept a lid on Amazon’s shares — e-commerce deceleration in 2021, e-commerce deceleration and margin compression in 2022, and AWS deceleration in 2023 — will have dissipated throughout 2024, UBS said in a research note on Friday.
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