This article first appeared on GuruFocus. Phillip Securities upgraded Amazon (NASDAQ:AMZN) to Buy from Accumulate on Monday and raised its price target from $320 to $330, arguing that demand for Amazon Web Services justifies the company's heavier spending. Amazon shares were up 5.22% as of 10:30 a.m. ET. Warning! GuruFocus has detected 4 Warning Signs with AMZN. Is AMZN fairly valued? Test your thesis with our free DCF calculator. Analyst Helena Wang raised her fiscal 2027 revenue estimate by 2% and her net income forecast by 3%, citing AWS's strong growth. She lifted her 2027 capital expenditure estimate by 3% as well.
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