Amazon.com (AMZN) PT Raised to $250 at Oppenheimer

Oppenheimer analyst Jason Helfstein raised the price target on Amazon.com (NASDAQ: AMZN) to $250.00 (from $215.00) while maintaining a Outperform rating.

The analyst commented, "Increasing target to $250 (was $215) on higher margins, now more in line with the Street, on better trade outlook vs. early May. Additionally, E-commerce continues to outperform vs. overall retail, with QTD non-store retailers +3.7% y/y vs. retail ex. Motor, Parts & Gas +2.7%. While we are conservatively leaving revenue largely unchanged, we are increasing margins on lower trade costs. Increasing FY25E/FY265E E-commerce gross margin 562bps/187bps to 9.1%/10.5% with consolidated EBIT margins 91bps/90bps higher to 11.4%/12.8%. We are leaving AWS estimates unchanged and continue to expect modest 2H ramp as capacity becomes available. Lastly, internal memo from CEO Jassy indicated plans to leverage AI to limit headcount over-time. Target implies 9.5x 2026E AWS revenue/5.0x 2026E E-commerce GP or 23x 2026E EBIT."

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