Evercore ISI Lifts Amazon Stock Target on AI Survey Results

Evercore ISI has raised its price target for Amazon's stock to $355 from $315.16, citing positive results from its 14th Annual U.S. Online Retail survey.

The survey found that 57% of Alexa AI users made a purchase they were not previously aware of, marking the first evidence that Agentic AI is additive for Amazon Retail.

Amazon's penetration in the online retail market remains strong at 92%, with Prime same-day delivery usage rebounding to 49%. Regular users who don't have Prime spend significantly less than those who do, with a spending gap of 3.1 times recorded by Evercore ISI.

The firm also noted that approximately 46% of respondents who saw Perishable Checkout added fresh groceries to their Amazon carts.