Mizuho analyst James Lee reiterated a Buy rating on Amazon.Com, Inc (NASDAQ: AMZN) with a price target of $180.
Lee recently completed his quarterly AWS sales channel monitor with a leading partner.
KPIs such as sales cycle, price concession, and consumption remained stable after a meaningful improvement last quarter. Furthermore, spending growth remained stable with reinvestment from cost optimization into Gen-AI and cloud migration.
However, early FY24 budget processes indicate acceleration into next year due to a strong pipeline of large-scale migration.
The pipeline was robust for regional banks to access the latest risk management technologies in the cloud to limit interest rate risk and the deposit flight they faced in the first half of the year.
With the group moving to the cloud for the first time, Lee ...