Stifel Lowered the Firm's PT for Amazon.com (AMZN), Maintained a Buy Rating

Amazon.com, Inc. (NASDAQ:AMZN) is one of the Best Stocks to Invest in for High Returns. On August 1, Stifel lowered the firm’s price target on Amazon.com, Inc. (NASDAQ:AMZN) from $262 to $260, while maintaining a Buy rating on the stock.

The firm noted that the company’s results for the fiscal second quarter were very healthy as both revenue and operating income exceeded the high end of guidance. However, despite the strong performance, the firm reduced the price target as the Q3 outlook remains mixed. Stifel noted that the revenue guidance for Q3 is better than expected; however, the operating income guidance is slightly below expectations.

Moreover, the firm was also disappointed by the company’s AWS segment, which remained stable but did not accelerate as expected.

Amazon.com, Inc. (NASDAQ:AMZN) is a technology company known for its e-commerce platform and cloud computing services through its AWS platform.

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Disclosure: None. This article is originally published at Insider Monkey.