Amazon shares rise 3%; Credit Suisse raises rating

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SAN FRANCISCO (MarketWatch) -- Amazon.com Inc. shares rose nearly 3% Tuesday to $229.23. Credit Suisse analyst Spencer Wang raised his rating on the online retailer to outperform, or buy, from neutral and lifted his price target on Amazon's stock to $270 a share from $190. In a research note, Wang cited the evolution of Amazon's business model as well as evidence that gross profit margins will increase over the next year among the reasons for his upgrade.
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