Amazon.com (AMZN) PT Raised to $160 at Cowen on Lower Operating Losses

Cowen analyst John Blackledge raised the price target on Amazon.com (NASDAQ: AMZN) to $160.00 (from $150.00) while maintaining a Outperform rating, saying they expect lowering operating losses ex-AWS and ADV in 2023.

The analyst commented, "Various rising costs incl. (i) employment, (ii) inflation, & (iii) segment investments, coupled with (iv) FX impact to rev. should drive an est. '22 Op Loss of ($26.7BN) for AMZN excluding AWS & Adv. While we expect "rest of biz" Op losses to remain elevated in '23, headwinds should start to subside, driving margin upside vs. consensus. We modestly raised our AMZN Op Inc est's '23-'27, PT to $160"

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