Mizuho analyst Lloyd Walmsley raised the firm’s price target on Amazon.com (AMZN) to $315 from $300 and keeps an Outperform rating on the shares. The firm cites higher valuation multiples on increased confidence post the Q3 earnings report for the target increase. The results, “strong” Tranium commentary and the OpenAI deal bolster confidence in the long-term growth at Amazon Web Services, the analyst tells investors in a research note. Mizuho thinks investors will continue to rotate into Amazon.com shares given that its valuation is well below its historic ranges and positive news will likely continue.
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