Amazon: Jefferies raises target price

(CercleFinance.com) - Jefferies maintains its 'buy' recommendation on Amazon shares, raising its target price from $225 to $235, on the heels of a publication marked by a new record EBIT margin, thanks to AWS (38.
1%) and International (3.6%).

The broker also highlights an EBIT forecast of $16bn to $20bn provided by the tech group for Q4 2024, overall higher than investors' expectations of $16.5bn to $17bn.

The acceleration of AWS revenue growth by just 40 basis points, to 19.1%, was slightly disappointing, but management noted that the offering was constrained and that growth could improve over time, Jefferies adds.


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