Citi lowered the firm’s price target on Amazon.com (AMZN) to $273 from $275 and keeps a Buy rating on the shares. The firm is “incrementally positive” on Amazon shares following the Q4 results. The company’s investments should result in faster Web Services demand, currency led to lower guidance, and when excluding the one-time $920M impact from server disposals, Amazon’s Q4 operating income would have been $22.1B, above guidance, the analyst tells investors in a research note. Citi would take advantage of any selloff in the shares.
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