Shares of Amazon.com Inc. rose 1% to around $624 in premarket trade Tuesday after Credit Suisse raised its price target on the stock and predicted that the capital intensity of AWS, or the money needed to run the company's fast-growing enterprise-market cloud service, has peaked and is now "leveling off." The brokerage raised its target to $800 from $777, which represents a 30% increase from Monday's closing price. It is also anticipating improved margins in Amazon's e-commerce business, due to lower shipping costs and built-out logistics systems.
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