Amazon price target raised to $224 from $200 at Stifel

Stifel analyst Mark Kelley raised the firm’s price target on Amazon.com to $224 from $200 and keeps a Buy rating on the shares. Sentiment for the U.S. Internet group has been mixed since the start of 2024 and the firm’s thoughts at the start of Q1 earnings are “largely unchanged” that the advertising environment continues to improve, e-commerce continues to “hang in there,” and subscription names “remain a mixed bag,” the analyst tells investors in a group preview note.