BMO Capital on Amazon.com (AMZN): 'Strong AWS Demand Clouded by Limited 2H25E Visibility'; PT Lowered

BMO Capital analyst Brian J. Pitz lowered the price target on Amazon.com (NASDAQ: AMZN) to $235.00 (from $280.00) while maintaining a Outperform rating.

The analyst commented: "Strong AWS Demand Clouded by Limited 2H25E Visibility; While supply constraints are abating, Cloud demand softened in March. Given the fluid macro and reduced visibility, 2H25E is increasingly uncertain. We reduce our 1Q25E/2025E AWS growth estimates to 19%/18% from 20%/20%, though AWS remains best-positioned to benefit from the $5T TAM opportunity. Separately, China tariffs will likely weigh on customer optionality and could prompt higher prices. While AI and MCF capabilities provide a partial offset, we elect to lower GMV forecasts to reflect the fluid backdrop. Reiterate Outperform, but reduce estimates and Target Price to $235 from $280."

You May Also Be Interested In

• Constellation Brands (STZ) PT Lowered to $157 at Jefferies
• William Blair Upgrades Backblaze Inc (BLZE) to Market Perform
• Baldwin Insurance (BWIN) PT Raised to $25 at BMO Capital