Top rating from Scotiabank: First to give amazon an 'outperforming the large cap market' rating. AWS is expected to benefit from artificial intelligence spending.
October 12th, Scotia Bank initiated coverage of amazon for the first time, giving it an "outperform" rating with a target price of $245. The bank stated that amazon will continue to dominate in retail, digital advertising, and AWS, bringing many new growth opportunities. In particular, AWS is expected to benefit from ai spending, and annual revenue growth rates after 2027 are expected to reach 15%. (Gelonghui)
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