In a report released today, Mark Kelley from Stifel Nicolaus maintained a Buy rating on Amazon, with a price target of $319.00.
Meet Samuel – Your Personal Investing Prophet
High conviction AMZN bears now have this Tradr ETFMark Kelley has given his Buy rating due to a combination of factors, including Amazon’s broad-based outperformance versus expectations and strong growth in key segments. The company delivered revenue and operating income ahead of consensus, raised its second-quarter sales outlook, and continues to see customers trading down without materially pressuring profitability, leading him to maintain a positive view and lift his price target to $319.
He also emphasizes the accelerating momentum in AWS, highlighted by faster cloud growth, a sharply expanding backlog, and a rapidly scaling custom silicon and Trainium franchise with substantial committed demand. Additional support comes from robust retail and grocery trends, growing AI services adoption such as Bedrock, and attractive long-term returns on elevated infrastructure investment, all of which underpin his conviction that Amazon’s long-term earnings power is underappreciated at current levels.
In another report released today, Barclays also maintained a Buy rating on the stock with a $330.00 price target.