Analysts bumped up price targets on Amazon.com Inc. following fourth-quarter results. Piper Sandler analyst Thomas Champion raised the price target to $3,900 from $3,875 (40.4 percent upside) and reiterated an Overweight rating. The headline results were mixed with revenue 1 percent below Piper’s forecast and EBITDA better. However, the analyst notes that Web Services growth accelerated to 40 percent year-over-year and was 3.4 percent above Piper’s forecast. Goldman Sachs analyst Eric Sheridan raised the price target to $4,200 from $4,100 (51.2 percent upside) and reiterated a Buy. Amazon’s earnings report produced a “solid set of results and addressed directly many of the key investor debates in the past few months.” Raymond James analyst Aaron Kessler raised the price target to $3,950 from $3,840 (42.2 percent upside) and kept an Outperform. Amazon reported another strong quarter of accelerating AWS growth and strong advertising growth. However, e-commerce growth remains slow on tough …
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