Apr. 30 at 11:00 AM
$AMZN Amazon.com price target raised to
$320 from
$300 at Guggenheim
Guggenheim analyst Simeon Siegel raised the firm's price target on Amazon.com to
$320 from
$300 and keeps a Buy rating on the shares. Amazon posted a "strong" Q1 with AWS growth of 28%, accelerating and beating published estimates, the analyst tells investors. AWS strength with backlog at a record
$364B even excluding the
$100B-plus Anthropic commitment not yet booked, AI revenue growing triple digits, demand continuing to outpace capacity, and accelerating revenue with the "Anthropic-cherry on the top" continues to argue for long term upside, the analyst added.