Amazon (NASDAQ:AMZN), says Cowen's John Blackledge maintaining his Outperform rating but lowering the price target to $390 from $410, "delivered a mixed report with units stabilizing and a topline result and guide that met expectations, but the profitability disappointed. Also, AWS price cuts put an unexpected dent in growth."
Also continuing with a Buy rating, but lowering the price target is BofA's Justin Post who cuts to $400 from $420, noting the Q3 profit outlook as coming in well below expectations.
Baird and Evercore also cut price targets, and B. Riley pulls its Buy rating, downgrading to Neutral.
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