In the wake of the firm’s third annual “Amazon Day Symposium,” which included expert panel discussions on four key business areas for Amazon, Evercore ISI says key takeaways from the event “give us incremental confidence in AMZN as our #1 ‘Net Long in the Large Cap space.” Following the event, the firm contends that Amazon remains well positioned in terms of ad revenue growth; that cloud market end demand trends appear to be “robust” and accelerating into 2025; that Amazon’s leading retail value proposition and competitive position is “as strong now as it has ever been”; and that AWS appears better positioned against Gen AI trends than it was a year ago. Evercore reiterates an Outperform rating and $240 price target on Amazon shares.

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