TD Cowen Keeps Buy Rating on Amazon with $350 Price Target

TD Cowen has reaffirmed its Buy rating on Amazon.com (AMZN), setting a price target of $350.00. This target suggests a potential upside of 39.2% from the stock’s closing price of $251.52 on October 2.

The firm’s optimism is driven by Amazon’s projected financial performance. For the third quarter of 2026, Amazon is expected to report revenue of approximately $202.2 billion, representing a 12.2% year-over-year growth. This growth is primarily fueled by acceleration in AWS revenue, along with improvements in advertising and subscription services.

Amazon Web Services (AWS) is anticipated to see a substantial 41% year-over-year revenue growth. This surge is attributed to increasing demand for AI workloads, underscoring Amazon’s strong position in the cloud computing market and its potential for sustained growth in this sector.