Stifel Boosts Amazon (AMZN) Price Target, Sees Q2 Earnings Beat Potential

Amazon.com, Inc. (NASDAQ:AMZN) ranks among the best stocks to buy for the next 6 months. On July 29, Mark Kelley, an analyst at Stifel, raised the price target for Amazon.com, Inc. (NASDAQ:AMZN) from $245 to $262 while keeping the company’s shares at a Buy rating. As the company gets closer to announcing its second-quarter earnings, Kelley points out that third-party data suggests Amazon.com, Inc. (NASDAQ:AMZN) may surpass forecasts.

Stifel Boosts Amazon (AMZN) Price Target, Sees Q2 Earnings Beat Potential

Zapp2Photo/Shutterstock.com

This optimism stems in part from the strategic agreements made by the current U.S. administration and the postponement of tariff measures, both of which have benefited the company.

Stifel admitted that its models had been “too conservative” after what it called “liberation day,” and as a result, it raised some of its projections for Amazon.com, Inc. (NASDAQ:AMZN).

The firm stated that it prefers Amazon.com, Inc. (NASDAQ:AMZN) in the e-commerce industry and that it believes the company’s long-term financial projections would “continue to work higher from here.”

Amazon.com, Inc. (NASDAQ:AMZN) is a major technology company that runs the world’s largest e-commerce and cloud computing businesses. The company also offers digital streaming and AI technology.

While we acknowledge the potential of AMZN to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AMZN and that has 100x upside potential, check out our report about this cheapest AI stock.

Read More: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds

Disclosure: None.