UBS analyst Stephen Ju raised the firm’s price target on Amazon.com to $224 from $217 and keeps a Buy rating on the shares ahead of the Q2 results on August 1. UBS thinks the time is approaching for the company to start showing more of its aggression and enter an investment cycle, and while the recent $1.8B per year licensing deal with the NBA will likely capture the most attention, the step-up in CapEx for AWS, alongside what it may look to do in groceries and Internet access will likely be more meaningful over time, the analyst tells investors in a research note.
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