Stocks
Rosenblatt Boosts Amazon Price Target to $345 on Strong AWS Growth
Rosenblatt Securities reaffirmed its 'Buy' rating on Amazon (AMZN) stock, citing strong growth in Amazon Web Services (AWS) AI business.
The firm raised its price target to $345.00, a 4% increase from the previous estimate, following AWS's second-quarter 2026 performance. The division reported 37% year-over-year growth in constant currency, exceeding analysts' expectations of low-single-digit acceleration.
AWS had previously lagged behind competitors Google Cloud and Microsoft Azure in AI-driven growth. However, Amazon appears undervalued at current levels, with a PEG ratio of just 0.77, placing it among opportunities on the platform's Most Undervalued list.