Amazon.com, Inc. (AMZN  ) saw its price target cut by another analyst on Wednesday, marking the thirteenth price target reduction for the stock since President Donald Trump announced his tariff policies on April 2.

Expert Ideas: Analysts at Telsey Advisory Group slashed price expectations on Amazon stock from $275 to $235 based on concerns about increased costs and reduced consumer spending related to higher tariffs.

The analysts said they generally expect sales growth in the high single digits driven by an expanded product assortment, continued strong online spending, strong demand for AWS and benefits from Amazon's faster fulfillment.

However, the "wild card" remains uncertainty related to the impact of Trump's tariffs, which could drive higher operating costs and lower consumer spending. Telsey analysts pointed to Amazon's significant first-party and third-party exposure to China, highlighting that many third-party sellers are also spending on advertising and fulfillment services.

Telsey Advisory Group maintained an Outperform rating on Amazon stock, but lowered the price target based on a reduced EV/EBITDA multiple of 15x, down from 18x, to its estimated 2025 adjusted EBITDA of $163 billion.

AMZN Stock Price Action: Amazon shares were up 5.43% at $182.58 on Wednesday, according to Benzinga Pro, amid a broad market rally after Trump signaled the potential of lowering tariffs on China.