Stocks
Evercore Boosts Amazon Price Target to $355 Amid AI-Driven Retail Growth
Amazon's stock price surged 4% on Friday after Evercore ISI raised its price target to $355 from $315.16, while maintaining an Outperform rating.
The move came as analysts pointed to improving trends across Amazon's retail, artificial intelligence and cloud businesses.
Evercore ISI based its revised target partly on findings from its 14th Annual US Online Retail survey.
The survey found that 57% of Alexa AI users had purchased a product they were previously unaware of, providing evidence that agentic AI could add to Amazon's retail business.