JPMorgan raised the firm’s price target on Amazon.com (AMZN) to $305 from $265 and keeps an Overweight rating on the shares following the Q3 report. The firm believes Amazon on the earnings call “pushed back on many of the Street’s major AWS concerns.” When combined with the better than expected revenue acceleration of 20% in Q3, the company “effectively flipped the script” on the Web Services narrative heading into 2026, the analyst tells investors in a research note. JPMorgan believes the overall sentiment on AWS will improve “notably” in coming months as the business accelerates growth.
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