Amazon.com price target raised to $265 from $230 at DA Davidson

DA Davidson analyst Gil Luria raised the firm’s price target on Amazon.com (AMZN) to $265 from $230 and keeps a Buy rating on the shares. The company’s Q2 results beat expectations on the top and bottom line, though despite the solid results, with accelerating revenue in Retail and stabilizing growth in AWS, results were largely overshadowed by capex guidance that is expected to see investments in infrastructure accelerate through the back half of the year, the analyst tells investors in a research note. The firm further notes that Amazon management continues to reiterate that they’re seeing an acceleration of customers transition to the cloud, along with demand for compute still exceeding supply.