Amazon price target raised to $225 from $220 at Evercore ISI

Evercore ISI analyst Mark Mahaney raised the firm’s price target on Amazon.com to $225 from $220 and keeps an Outperform rating on the shares following what the firm describes as “Beat & Mixed Q1 EPS results.” The two key positives were a material and better than expected acceleration in AWS revenue growth to 17% year-over-year and record high operating margins for the company of 10.7%, says the firm. The “bar was reasonably high for the quarter, and AMZN somewhat modestly cleared it,” adds the analyst, who thinks shares will go higher as a result.