Amazon.com (AMZN) PT Raised to $255 at TD Cowen

TD Cowen analyst John Blackledge raised the price target on Amazon.com (NASDAQ: AMZN) to $255.00 (from $250.00) while maintaining a Buy rating.

The analyst commented: "AMZN 2Q25 rev was 3% above cons, incl NA / Int'l beats of +2.5% / +7%; AWS rev grew 17.5% y/y, largely in line amid ongoing AI capacity constraints, while adv beat cons by 5%. Op Inc beat consensus by 14% despite AWS miss on higher ad rev and cont'd lower cost to serve. 3Q25 rev and Op Inc guide were +3.6% and +5.2% vs cons (high end). We raised LT ests, maintain Buy, PT to $255. Shares (6%) AH.

Following results & outlook, we slightly raised our total rev forecast 2.4% in 3Q25 and raised 1.1% annually (on avg) in '25-'30; our NA rev is higher by 1.7% in 3Q25 and by 1.6% annually (on avg) in '25-'30, while our Int'l rev is 6.4% higher in 3Q25 and 4.1% higher '25-'30; & our AWS rev forecast is unchanged for 3Q25 and +0.3% annually (on avg) in '25-'30. We raised our 3Q25 Op Inc est by 4.9% and increased our LT ests by ~2.3% annually (on avg) '25-'30. For a detailed list of est changes, see table below. Net-net, maintain Buy, Price Target to $255."

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