Amazon (AMZN.US) stock price hits three-year highest single-day increase, prompting analysts to raise target price to $290.

Intelligence Finance APP learned that on Friday, the stock price of Amazon (AMZN.US) recorded the largest single-day increase in nearly three years. Thanks to double-digit growth in cloud computing and retail businesses, this e-commerce giant has exceeded expectations for both revenue and profit for the fifth consecutive quarter. The company's third-quarter performance, as reported, showed a 16% year-on-year growth in profits, mainly driven by strong performance in online retail, subscription services, and Amazon Web Services (AWS).