Truist raised the firm’s price target on Amazon.com to $216 from $195 and keeps a Buy rating on the shares. The firm expects the company’s Q1 earnings to top expectations based on its tracking of North America sales using the Truist Card Data, positive checks into the ads business, expectations for further growth acceleration at AWS, and improving unit economics and operating expense management, the analyst tells investors in a research note. Truist adds that it sees multiple growth vectors powering Amazon’s growth over the next several years.
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