Amazon.com (AMZN) PT Raised to $1,430 at Wells Fargo

Wells Fargo raised its price target on Amazon.com (NASDAQ: AMZN) to $1,430.00 (from $1,400.00) while maintaining a Outperform rating.

Analyst Ken Sena says the report was a "whole lot better than expected" which further bolsters his broader industry thesis which is "that certain underlying advances with these majorly scaled audience platforms, namely around data collection, computing efficiency, and a broader industry transition towards a more adaptive style of compute, stands to hasten efficient expansion into new areas." The analyst raises FY 2017 EPS estimate and lowers FY 2018.

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