Amazon.com Inc.’s price target was cut to $4,200 from $4,700 at Credit Suisse as fulfillment and shipping costs rise. Amazon has announced plans for 150,000 seasonal hires in addition to more than 150,000 other hires it has announced. “We assume that from a customer service perspective Amazon will expedite delivery/bear the incremental shipping cost,” analysts wrote. “As we further anticipate global logistics headwinds do not abate until mid-22, our EBIT estimates for 2H21/22 decrease accordingly and reflect a scenario in which Amazon has spent roughly $53 billion in CapEx and further taken on incremental expenses without…

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By James Carter

A Senior writer & Editor, James is a postgraduate in biotechnology and has an immense interest in following news developments. Quiet by nature, he is an avid Lacrosse player. He is responsible for handling the office staff writers and providing them with the latest updates happenings in the world. He writes for almost all sections of Editorials 24.