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Truist raises Amazon price target to $320, citing strong AWS growth and AI investments.

Analyst Insights
01 Jun 2026
Finbold
View Source
Bullish
pluang ai news

Truist Securities analyst Youssef Squali raised Amazon's price target from $310 to $320, highlighting the company's strong growth potential in Amazon Web Services (AWS) driven by large AI investments and partnerships. The analyst expects AWS revenue growth to outpace capital expenditures, supported by new AI chip developments and significant deals with AI firms like Anthropic and OpenAI. Wall Street remains bullish on Amazon, with a consensus 'Strong Buy' rating and an average 12-month price target around $319, reflecting confidence in Amazon's leadership in e-commerce, advertising, and cloud computing.

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