Phillip Securities upgraded Amazon to Buy from Accumulate on Monday and raised its price target from $320 to $330, arguing that AWS demand justifies the company's heavier spending. Amazon shares were up 5.22% as of 10:30 a.m. ET. Analyst Helena Wang raised her fiscal 2027 revenue estimate by 2%, net income forecast by 3% and capex estimate by 3%, while acknowledging that aggressive spending pressures free cash flow. In the third quarter, net sales rose 12% to $201.9 billion and AWS sales grew 39.3% to $46.0 billion, its fastest pace in nearly five years. Net income fell to $20.7 billion, or $1.89 per diluted share, because the year-ago quarter included $9.5 billion in pre-tax gains from the Anthropic investment.
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▲ Likely positiveAmazon
Relevance: high
| Market | US stocks |
|---|---|
| Sector | Consumer Discretionary |
| Industry | Broadline Retail |
| Market cap | $2.6T |
| Close on 10/30/2026 | 240.47 |
| Change that session | -1.36% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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