Amazon price target raised to $130 from $125 at Benchmark

Benchmark analyst Daniel Kurnos raised the firm’s price target on Amazon to $130 from $125 and keeps a Buy rating on the shares following the company’s "relatively solid" Q4 results. Guidance was "substantially more mixed," with management confirming investor fears of a material AWS slowdown, but the firm is applying a slightly higher multiple as it believes the "value proposition has incrementally improved" given margin, opex and capex commentary that could lead to a positive free cash flow result for the year depending on revenue.