UBS raised the firm’s price target on Amazon.com to $217 from $215 and keeps a Buy rating on the shares. Investors will likely walk away from the Q1 call thinking that the absolute dollar they should be budgeting for AWS should be much higher than pre-results, which UBS views as a net positive as Amazon has become adept at forecasting and equipment procurement so as to deploy assets on an almost real-time basis, the firm says. Higher AWS CapEx signals faster revenue growth, the firm adds.
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