Amazon Stock Rises as Phillip Securities Upgrades to Buy, Raises Target to $330

Amazon (NASDAQ: AMZN) shares rose 1% to $242.79 in Monday's premarket trading as Phillip Securities upgraded the stock from Accumulate to Buy and increased its price target from $320 to $330 following the company's third-quarter earnings. Analyst Helena Wang cited accelerating growth at Amazon Web Services (AWS), where third-quarter revenue increased 39.3% year-over-year to approximately $46 billion.

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