Jefferies Sticks With Buy on Amazon, Citing AWS Re-acceleration and Valuation Upside
Jefferies has reiterated a Buy rating on Amazon.com Inc. and held its $300 price target, arguing that the stock's current valuation understates early signs of Amazon Web Services (AWS) re-acceleration. The firm points to AWS backlog, October bookings and easier year-over-year comparisons as evidence of potential mid-20s percentage growth in Q4. Mul…