Barclays raised the firm’s price target on Amazon.com (AMZN) to $265 from $235 and keeps an Overweight rating on the shares following the Q4 report. Amazon is executing very well with Web Services and Retail both meeting or beating in Q4, but currency and the leap year weighed on the Q1 guidance, the analyst tells investors in a research note. The firm says the artificial intelligence “arms race is on full display with capex going vertical” at Amazon.
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