$AMZN - BNP PARIBAS EXANE INITIATES AMAZON AT OUTPERFORM; NAMES IT A TOP PICK BNP Paribas Exane analyst Nick Jones has initiated coverage of Amazon with an Outperform rating and a $320 price target. According to Jones, Amazon is well positioned to maintain its leadership in both cloud computing and e-commerce, with significant room for continued growth in digital advertising. He adds that concerns about Amazon underinvesting in AI are overstated, noting the company’s ongoing expansion of AI infrastructure, integration of AI models across AWS, and growing use of AI throughout its consumer ecosystem.