Amazon Stock Surges on AI-Driven Cloud Momentum and Rising Price Targets
Amazon's stock price rose in premarket trading on Monday as analysts from top firms such as Roth Capital and Morgan Stanley raised their price targets for the company, citing strong AI-driven cloud momentum.
The cloud business expanded by 37% year over year, with quarterly revenue increasing 20% to $200.6 billion.
Morningstar's Dan Romanoff highlighted the strong demand for Amazon's cloud and AI services, as well as continued consumer resilience.
Roth Capital increased its price target to $325 from $300 while maintaining a 'Buy' rating, citing Amazon's 'highest AI return on invested capital vs. peers.'