Stocks
Evercore ISI Lifts Amazon Price Target on AI-Driven Retail Sales Outlook
Amazon's stock is expected to gain as investment firm Evercore ISI raises its price target on Amazon to $355 from $315. The firm cites AI-driven gains in online marketplace activity and retail sales conversion.
According to a survey, 57% of Alexa AI users purchase previously unknown products, while 36% buy more due to the AI features. This suggests that agentic AI tools are helping expand discovery as well as purchases.
Average Amazon penetration is at 92%, making it the most widely used online platform in the poll, with Walmart at 58%. Evercore ISI's analyst Mark Mahaney says this dominance will likely grow as Alexa and other AI-fueled shopping methods become more popular.