Piper Sandler raised the firm’s price target on Amazon.com (AMZN) to $255 from $250 and keeps an Overweight rating on the shares. The firm notes Q2 results were better than expected, although shares were off slightly following a strong quarter-to-date run and elevated buyside expectations. AWS growth accelerated, but slower than larger infra peers. Amazon remains relentless on lowering cost to serve and appears on the cusp of an AI product cycle, although macro creates uncertainty, including Tariffs, Piper adds.
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