Quick Read
At least 14 Wall Street firms raised their Amazon (AMZN) stock price targets to $310-$350 following Q1 earnings, driven by AWS accelerating to 28% YoY growth—the fastest in 15 quarters.
AWS momentum and Amazon’s vertically integrated AI infrastructure stack are convincing analysts the company will win sustained cloud and AI workload share, though $200 billion annual CapEx and $119.1 billion debt load create execution risk if backlog conversion slows.
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At least 14 Wall Street firms issued price target hikes on Amazon (NASDAQ:AMZN) stock following the company’s Q1 2026 earnings beat reported on April 29. New price argets now cluster between $310 and $350, with TD Cowen leading at $350 from $300.
The synchronized analyst upgrade wave centers on Amazon Web Services (AWS) reaccelerating to 28% year-over-year (YoY) growth, the fastest in 15 quarters. For prudent investors, the question is whether AWS has emerged as the durable artificial intelligence (AI) infrastructure winner.
Firm | Action | Old Target | New Target | Rating |
|---|---|---|---|---|
TD Cowen | Price target raised | $300 | $350 | Buy |
Barclays | Price target raised | $300 | $330 | Overweight |
JPMorgan | Price target raised | $280 | $330 | Overweight |
Canaccord | Price target raised | $300 | $330 | Buy |
Citi | Price target raised | $285 | $325 | Buy |
Wolfe Research | Price target raised | $245 | $320 | Outperform |
Guggenheim | Price target raised | $300 | $320 | Buy |
BofA | Price target raised | $298 | $310 | Buy |
Truist | Price target raised | $285 | $310 | Buy |
Amazon’s Q1 2026 earnings beat featured EPS of $2.78, trouncing the $1.73 estimate. Amazon stock closed at $263.04 the next session before pulling back modestly today.
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The Analysts’ Case
The bull case hinges on AWS momentum and backlog visibility. JPMorgan calls Amazon its best internet idea after currency-neutral revenue growth accelerated to 15% in Q1, the highest in 3.5 years. Guggenheim highlights a record backlog of $364 billion, even excluding the $100 billion-plus Anthropic commitment not yet booked.
Canaccord notes that AWS growth accelerated about 480 basis points (bps) quarter-over-quarter (QoQ), with backlog up nearly 50% QoQ, arguing Amazon’s vertically integrated stack is winning workloads. Barclays adds that Amazon is adding the most AI capacity of any company over the next few years. Stifel flags net sales of $181.5 billion were 2% ahead of Street estimates, while operating income of $23.9 billion came in 15% better than consensus, while Wolfe Research describes the quarter as “clean beat and raise.”
finance.yahoo.com
#AWS #Infrastructure #Winner
