Rosenblatt Defends Amazon Against AI Shopping Agent Fears

Rosenblatt Securities has upgraded its rating on Amazon (AMZN) to Buy and set a new price target of $360, representing about 46% upside from yesterday's closing price of $246.67.

The firm pushed back against investor concerns that personal AI shopping agents will disrupt the company's advertising business by compressing the path from product discovery to purchase.

Rosenblatt argued that this narrative is 'false' and that the perceived disruption risk is overstated, citing Amazon's history of weathering secular shifts in consumer behavior.

The firm noted that Amazon has successfully adapted to changes in consumer behavior before and expressed confidence that it can navigate this transition without significant impact on its advertising model.