Stocks
Amazon Stock Price Target Skyrockets Following Earnings Report
The Amazon stock price target has seen an increase in recent weeks, following the company's latest earnings report.
Citi and Roth MKM have both raised their forecasts, with Citi analyst Ronald Josey increasing his target from $325 to $350 and keeping his Buy rating intact.
Roth MKM's Rohit Kulkarni also lifted his target, raising it from $300 to $325 while maintaining a Buy rating. Kulkarni pointed to Amazon's expanding AWS margins and rising returns from AI spending as reasons for the higher call.
The average Amazon 12-month price target now implies a rally of more than 20% from its early August level, with the average target sitting above $330. The Street-high estimate stands at $400, set by Benchmark analyst Daniel Kurnos on July 31.