Stifel analyst Mark Kelley raised the firm’s price target on Amazon.com (AMZN) to $275 from $245 and keeps a Buy rating on the shares. Q4 revenue was marginally ahead of the Street and operating income beat by about $2B, notes the analyst. Q1 guidance was light, as the firm previewed, but the “surprise” came in the form of management’s expectations for about $100B in capex this year, though margin expansion in North America and Internationl “remains encouraging,” with likely more to go as the company rolls out its redesigned U.S. inbound fulfillment network and looks to automation and robotics for more efficiency, the analyst added.
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