Wall Street Bullish on Amazon.com, Inc. (AMZN) with Strong Buy

Amazon.com, Inc. (NASDAQ:AMZN) is among the 15 Best Big Name Stocks to BuyWall Street continues to have a bullish outlook on the company with a Strong Buy rating and an average upside potential of 9% for its shares, as of the close on April 24.

Wall Street Bullish on Amazon.com, Inc. (AMZN) with Strong Buy

Stock market data. Photo by Burak The Weekender on Pexels

Recent updates include Oppenheimer, which on Friday raised its price target to $275 from $260 while maintaining an Outperform rating. The firm said it was positive on the company’s trajectory ahead of Q1 results while adding that the current share price was beginning to indicate an encouraging outlook for AWS following the CEO’s recent letter to shareholders.

Earlier, on April 23, UBS analyst Stephen Ju raised the price target on Amazon.com, Inc. (NASDAQ:AMZN) by $3 to $304 and reiterated a Buy rating. The firm noted the momentum driven by recent deals with Anthropic and OpenAI, which has led to an increase in backlog. According to TipRanks, the analyst also highlighted that growth estimates for AWS and 2027 operating income were well above Wall Street’s estimates.

In other news, Reuters on Friday reported that Meta had reached an agreement with Amazon to use AWS’s Graviton5 CPU chips. The deal is expected to be multi-year and worth billions of dollars.

Amazon.com, Inc. (NASDAQ:AMZN) engages in e-commerce, online advertising, cloud computing, artificial intelligence, and digital streaming. The stock has returned 17% year-to-date.

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