Rosenblatt Boosts Amazon Price Target to $360 Amid AI Concerns

Rosenblatt raised its price target on Amazon to $360 from $335 and maintained its Buy rating, despite concerns about AI shopping agents replacing its retail media model.

The firm believes that personal agents and AI shopping assistants 'compress the discovery and purchase funnel', but this does not necessarily mean Amazon's advertising model will be pushed out entirely.

Rosenblatt notes that Amazon has adapted to significant changes in consumer behavior before, and the current narrative is 'false'.

The analyst also raised its long-term estimates, stating that even if the advertising model changes, Amazon can navigate this period of transition largely unaffected.