Phillip Securities Raises Amazon Price Target to $330, Upgrades Rating
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Phillip Securities Research raised its Amazon (AMZN) price target by $10 to $330 and upgraded the stock to Buy from Accumulate, revising its fiscal 2027 estimates as cloud sales grew and investment needs increased. The rating change was dated Monday, Nov. 2. Analyst Helena Wang lifted the firm’s fiscal 2027 revenue estimate by 2% and its adjusted profit after tax and minority interests estimate by 3%. She also raised the firm’s capital expenditure estimate by 3%. Amazon Web Services (AWS) generated $45.984 billion in sales in the quarter ended Sept. 30, up 39.3% from a year earlier.
Source: TokenPost
